Bitcoin Slips to $95K While BlackRock Moves Billions in BTC and ETH From Coinbase

Bitcoin has cooled off from its recent highs and is trading around $95,000, reflecting some selling pressure in the market. At the same time, data shows that BlackRock, the world’s largest asset manager, has been moving significant amounts of crypto off the exchange Coinbase — raising questions among traders and investors about what the firm might be planning.

According to the on‐chain data, BlackRock has withdrawn 3,312 BTC (about $314 million) and 5,336 ETH (about $17.5 million) from Coinbase in the past 10 hours. This brings its total withdrawals over the last three days to 12,658 BTC — roughly $1.21 billion — and 9,515 ETH (about $31.3 million).

BlackRock’s Multiple Transfers and Market Developments

This is not the first such move. Around the same time last week, BlackRock transferred roughly $294 million worth of BTC and ETH to Coinbase ahead of a major crypto options expiry. A similar transfer was made a day earlier, raising attention due to the repeated timing of these movements. BlackRock has not publicly explained whether the transfers were linked to selling or internal fund management.

Also, the ETF data shows a mixed picture. According to SoSoValue, U.S. spot Bitcoin ETFs recorded a net outflow of $394.68 million at Friday’s close. Most funds saw capital leave, while BlackRock’s IBIT was the only fund to post an inflow, adding about $15 million.

Meanwhile, separate reports indicate BlackRock purchased around 6,647 BTC in a single session recently. That brings its estimated holdings close to 781,000 BTC, nearly 4% of circulating supply, based on tracking data.

Still, market sentiment weakened following broader crypto market pressure and uncertainty around U.S. crypto legislation, after Coinbase publicly criticized the bill.