Ethereum

Bitcoin

BlackRock

Blockchain data shows that <a rel="noopener noreferrer nofollow" target="_blank" href="https://med.etoro.com/B10215_A127826_TClick_Scb-BlackRock.aspx?TargetURL=https://www.etoro.com/markets/blk">BlackRock</a> recently transferred significant amounts of <a rel="noopener noreferrer nofollow" target="_blank" href="https://med.etoro.com/B10215_A127826_TClick_Scb-bitcoin.aspx?TargetURL=https://www.etoro.com/markets/btc">Bitcoin</a> and Ethereum to <a rel="noopener noreferrer nofollow" target="_blank" href="https://med.etoro.com/B10215_A127826_TClick_Scb-coinbase.aspx?TargetURL=https://www.etoro.com/markets/coin">Coinbase</a>-linked wallets, a move that caught the attention of market participants.
According to on-chain data, BlackRock held 2,164 <a rel="noopener noreferrer nofollow" target="_blank" href="https://med.etoro.com/B10215_A127826_TClick_Scb-bitcoin.aspx?TargetURL=https://www.etoro.com/markets/btc">BTC</a>, worth approximately $195 million, and 26,704 <a rel="noopener noreferrer nofollow" target="_blank" href="https://med.etoro.com/B10215_A127826_TClick_Scb-ethereum.aspx?TargetURL=https://www.etoro.com/markets/eth">ETH</a>, valued at around $83 million. Transfers to <a rel="noopener noreferrer nofollow" target="_blank" href="https://med.etoro.com/B10215_A127826_TClick_Scb-coinbase.aspx?TargetURL=https://www.etoro.com/markets/coin">Coinbase</a> wallets are often associated with exchange liquidity management, leading traders to interpret the move as a potential signal of upcoming market activity.
The transfers occurred during a period of heavy outflows from spot crypto exchange-traded funds. On January 7 alone, <a rel="noopener noreferrer nofollow" target="_blank" href="https://med.etoro.com/B10215_A127826_TClick_Scb-bitcoin.aspx?TargetURL=https://www.etoro.com/markets/btc">Bitcoin</a> ETFs recorded nearly $480 million in net outflows. <a rel="noopener noreferrer nofollow" target="_blank" href="https://med.etoro.com/B10215_A127826_TClick_Scb-BlackRock.aspx?TargetURL=https://www.etoro.com/markets/blk">BlackRock</a>’s Bitcoin fund accounted for about $130 million of those withdrawals in a single day.
Other major issuers also experienced redemptions. Bitcoin ETF products from Fidelity, Grayscale, Bitwise, and Ark Invest all saw capital outflows, indicating that selling pressure was spread across the sector rather than concentrated on a single provider.
<a rel="noopener noreferrer nofollow" target="_blank" href="https://med.etoro.com/B10215_A127826_TClick_Scb-ethereum.aspx?TargetURL=https://www.etoro.com/markets/eth">Ethereum</a>-focused funds followed a similar pattern. Daily net outflows reached nearly $98 million, while BlackRock’s ETHA fund reported more than $6 million in withdrawals. Grayscale, Fidelity, and VanEck also recorded notable redemptions from their Ethereum products.
The pressure was not limited to Bitcoin and <a rel="noopener noreferrer nofollow" target="_blank" href="https://med.etoro.com/B10215_A127826_TClick_Scb-ethereum.aspx?TargetURL=https://www.etoro.com/markets/eth">Ethereum</a>. <a rel="noopener noreferrer nofollow" target="_blank" href="https://med.etoro.com/B10215_A127826_TClick_Scb-ripple.aspx?TargetURL=https://www.etoro.com/markets/xrp">XRP</a> ETFs saw more than $40 million in outflows, marking their first day of net negative flows since November. This suggests that risk reduction affected multiple crypto investment vehicles simultaneously.
Following these developments, Bitcoin prices dropped below $90,000 after briefly trading above $94,000 earlier in the week. The renewed volatility reflects growing uncertainty among investors as macroeconomic and liquidity factors continue to weigh on the market.
<h2 id="strong-market-focus-shifts-to-u-s-jobless-claims-strong">Market Focus Shifts to U.S. Jobless Claims</h2>
The BlackRock transfer took place ahead of the latest U.S. initial jobless claims report, scheduled for release today. Analysts expect around 210,000 new claims, up from the previous 199,000. Traders are closely watching the data for signals on the strength of the labor market.
Recent indicators have already pointed to some cooling in U.S. employment conditions. November JOLTS data showed job openings falling to 7.1 million, below expectations. Additional labor market data and upcoming inflation reports next week are likely to continue shaping market sentiment and short-term crypto price movements.
This article was originally published as <a href="https://www.cryptobreaking.com/blackrock-moves-278m-in-btc/?utm_source=rss&amp;utm_medium=syndication&amp;utm_campaign=article_footer" rel="noopener noreferrer nofollow">BlackRock Moves $278M in BTC and ETH to Coinbase Amid ETF Outflow</a> on <a href="https://www.cryptobreaking.com/?utm_source=rss&amp;utm_medium=syndication&amp;utm_campaign=article_footer" rel="noopener noreferrer nofollow">Crypto Breaking News</a> – your trusted source for crypto news, Bitcoin news, and blockchain updates.

BlackRock Moves $278M in BTC and ETH to Coinbase Amid ETF Outflow

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