BlackRock just shifted 1,271 Bitcoin worth $135 million to Coinbase Prime. No small potatoes. This follows an earlier $478.5 million transfer, showing Wall Street’s growing crypto appetite. The move coincided with the end of a 40-day government shutdown and rising global acceptance of spot Bitcoin ETFs. Investors watch these whale movements nervously. BlackRock now holds an estimated $97 billion in crypto assets. The institutional chess game continues.
While crypto traders were busy doomscrolling over the weekend, BlackRock quietly moved a massive stash of Bitcoin to Coinbase. The financial behemoth transferred 1,271 BTC worth approximately $135 million on November 10, 2025. No big deal. Just another day of Wall Street giants shuffling crypto around like it’s pocket change.
This wasn’t BlackRock’s first rodeo. They’ve been moving serious crypto lately, including a previous transfer of 4,653 BTC worth about $478.5 million. The destination? Coinbase Prime, their institutional platform of choice for custody and trading. Smart move. When you’re sitting on billions in digital assets, you don’t exactly use a free wallet app.
Let’s be clear: this doesn’t necessarily mean BlackRock is dumping Bitcoin. These transfers typically signal portfolio rebalancing or liquidity management. The timing aligns with BlackRock’s expanded ETF strategies, including their new iShares Bitcoin ETF launch on the Australian Securities Exchange. Coincidence? Probably not.
The market context matters. This transfer happened as a 40-day US government shutdown finally ended. The Senate had already approved a bipartisan deal that would eventually reopen federal agencies pending House approval. Regulators worldwide are increasingly accepting spot Bitcoin ETFs, with approvals in the US, Australia, Germany, and Switzerland. BlackRock isn’t gambling here—they’re positioning.
The deposit triggered the usual market anxiety. Crypto investors get jumpy when whales move coins to exchanges. It’s practically a reflex at this point. But BlackRock’s overall crypto holdings remain substantial—estimated at $97 billion, with about 86% in Bitcoin and 14% in Ethereum. As Bitcoin’s dominance reaches 74% of the total cryptocurrency market cap, these institutional movements carry even more significance. The transaction occurred just one hour before the public report was released, leaving little time for market participants to react.
These institutional moves reveal a more complex strategy than simply buying or selling. BlackRock is managing a diverse crypto portfolio during evolving market conditions. Their moves matter. A lot.
The crypto community will obsessively track these transfers, looking for clues about institutional sentiment. That’s just how it works now. When BlackRock moves Bitcoin, everyone pays attention. Whether they admit it or not.
