BlackRock moved $75M in Bitcoin and $14M in Ethereum to Coinbase, sparking debate over selling or routine institutional moves.
Blockchain data shows that BlackRock transferred 1,134 BTC worth about $75 million and 7,553 ETH worth about $14.46 million to Coinbase.
The transfers triggered market discussion about whether the move signals selling activity or a routine treasury action.
Details of the Coinbase Transfers
On-chain tracking platforms reported that BlackRock-linked wallets sent 1,134 BTC to Coinbase.
At the time of transfer, the Bitcoin was valued near $75 million. The same wallets also moved 7,553 ETH valued at about $14.46 million.
Blackrock deposited 1,134 $BTC worth $75M and 7,553 $ETH worth $14.46M to #Coinbase and likely to deposit more.https://t.co/pyOLoPpL7H pic.twitter.com/jTZHzOqopJ
— Onchain Lens (@OnchainLens) February 23, 2026
The transactions occurred in multiple batches over a short period. Market participants observed that the transfers were directed to Coinbase Prime.
Coinbase Prime is often used by institutions for custody and trading services. No public filing from BlackRock accompanied the transfers.
The company has not released a statement regarding the purpose of the deposits. The timing of the transactions led to increased attention across crypto markets.
Market Reaction and Speculation
Social media posts by cryptonobel described the transfers as aggressive liquidation. According to cryptonobel the firm was “dumping millions every few minutes.”
However, blockchain data only confirms that assets were moved to an exchange wallet.
🚨 BREAKING
BLACKROCK JUST STARTED AGGRESSIVELY LIQUIDATING BITCOIN!
THEY’RE NONSTOP DUMPING MILLIONS EVERY FEW MINUTES.
LOOKS LIKE THEY KNOW SOME REALLY BAD NEWS IS COMING TODAY… pic.twitter.com/23EWUd0Pr2
— 0xNobler (@CryptoNobler) February 23, 2026
Deposits to exchanges can indicate intent to sell, but they do not confirm execution of trades.
Institutions often shift assets for custody, collateral, or portfolio rebalancing. Exchange inflows alone do not provide full transaction context.
Bitcoin and Ethereum prices showed short-term volatility following the transfers.
Traders monitored order books and derivatives data for signs of large spot sales. Market data did not immediately confirm matching large sell orders.
Related Reading: Why Did BlackRock Sell Crypto Just Before Trump Spoke?
BlackRock’s Crypto Exposure and Strategy
BlackRock manages several crypto-related products, including spot Bitcoin exchange-traded funds.
The firm also offers Ethereum exposure through regulated investment vehicles. Asset movements may relate to fund flows or operational adjustments.
Institutional managers regularly rebalance holdings based on inflows and outflows.
ETF creations and redemptions can require moving digital assets between custodians and exchanges. Such activity can appear as exchange deposits on blockchain records.
As of the latest data, there is no official confirmation of liquidation tied to the transfers. Analysts continue to watch wallet activity for further movements.
Additional deposits or withdrawals may provide clearer signals about strategy. The crypto market remains sensitive to large institutional transactions.
On-chain transparency allows public tracking, yet transaction motives require official disclosure. Until further information is released, the purpose of BlackRock’s Coinbase transfers remains unconfirmed.
Source: https://www.livebitcoinnews.com/blackrock-moves-75m-in-btc-to-coinbase-dump-or-strategy/