BlackRock has transferred 5,847 BTC — worth approximately $450 million — into Coinbase Prime's custody layer, the latest high-volume movement tied to the asset manager's spot Bitcoin ETF operations. The transfer signals continued scaling of the infrastructure underpinning IBIT, the world's largest spot Bitcoin ETF by assets under management.
The move comes amid a broader backdrop of institutional Bitcoin accumulation, with BlackRock consistently among the most active participants in the post-ETF-approval custody ecosystem. Coinbase Prime serves as the primary custodian for IBIT, meaning flows of this scale reflect real ETF demand being settled into cold storage rather than speculative positioning.
For investors tracking institutional conviction in Bitcoin, a $450M single-transfer event is a structural signal — not a one-day anomaly. It reinforces the thesis that the largest…
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