Bitcoin ETF

BlackRock

Million

<ul>
 <li>BlackRock transferred 6,164 BTC worth $425 million to Coinbase.</li>
 <li>Lookonchain data showed the Bitcoin moved through thirteen transactions.</li>
 <li>Bitcoin ETF outflows exceeded $2.4 billion during the month.</li>
</ul>
BlackRock has transferred 6,164 Bitcoin worth approximately $425 million to Coinbase, extending a series of large Bitcoin movements that have emerged during a prolonged period of weakness in the spot Bitcoin ETF market. <a href="https://x.com/lookonchain/status/2061797778322563433" rel="noopener noreferrer nofollow">According to Lookonchain</a>, the transfer was completed through roughly 13 separate transactions, with most of the movements carrying around 300 BTC. 
The transaction comes at a time when Bitcoin ETFs are experiencing sustained capital withdrawals, creating additional pressure on the broader digital asset market. As a result, investors continue tracking large institutional wallet movements for signs of changing market conditions. Although BlackRock has not disclosed the purpose behind the transfer, deposits to exchanges are often viewed as potential selling activity because exchanges provide immediate access to market liquidity. 
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 <blockquote class="twitter-tweet">
 BlackRock just deposited another 6,164 <a href="https://x.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($425M) into Coinbase Prime.<a href="https://t.co/qmuDIrPHc6" rel="noopener noreferrer nofollow">https://t.co/qmuDIrPHc6</a><a href="https://t.co/6PUTolplMt" rel="noopener noreferrer nofollow">pic.twitter.com/6PUTolplMt</a> 
 — Lookonchain (@lookonchain) <a href="https://x.com/lookonchain/status/2061797778322563433?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 2, 2026</a> 
 </blockquote>
</div>
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<h2 id="bitcoin-etf-outflows-reach-historic-levels">Bitcoin ETF Outflows Reach Historic Levels</h2>
BlackRock’s latest transfer coincides with one of the most challenging periods for spot <a href="https://36crypto.com/blackrocks-ibit-posts-historic-bitcoin-etf-outflow-as-market-weakens/" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> since their launch in the United States. Data referenced in the report shows that the sector has recorded negative trading sessions for nearly three consecutive weeks. Moreover, Bitcoin ETFs have collectively lost more than $2.4 billion in capital during the past month as institutional investors continue reducing exposure. The absence of meaningful inflows has further weakened sentiment across the ETF market, contributing to an extended period of net withdrawals. 
Market conditions have also become more difficult for Bitcoin holders. Recent price declines have left many retail and institutional investors holding positions at a loss, while reduced demand has limited the market’s ability to establish a sustained recovery. Besides the ongoing withdrawals, <a href="https://36crypto.com/blackrock-dumps-1-billion-in-bitcoin-as-etf-investors-exit-aggressively/" rel="noopener noreferrer nofollow">BlackRock</a> has not recorded a significant Bitcoin purchase for nearly a month. That development marks one of the firm’s longest periods without adding to its Bitcoin holdings and highlights the cautious approach currently visible across the ETF sector. 
Current data indicates that spot Bitcoin ETFs are now experiencing their longest outflow streak since they began trading. With capital continuing to leave the sector, institutional activity remains a major factor influencing Bitcoin’s short-term direction. 
<h2 id="conclusion">Conclusion</h2>
BlackRock’s transfer of 6,164 BTC to Coinbase adds to a month-long pattern of large Bitcoin deposits as spot Bitcoin ETFs continue facing persistent outflows. With more than $2.4 billion leaving Bitcoin ETF products during the past month, the latest transaction underscores the difficult environment currently facing institutional Bitcoin investment vehicles. 
Also Read: <a href="https://36crypto.com/kalshi-moves-to-bring-xrp-perpetual-futures-trading-to-u-s-market/" rel="noopener noreferrer nofollow">Kalshi Moves to Bring XRP Perpetual Futures Trading to U.S. Market</a> 
The post <a href="https://36crypto.com/blackrock-extends-bitcoin-selling-streak-with-425-million-coinbase-transfer/" rel="noopener noreferrer nofollow">BlackRock Extends Bitcoin Selling Streak With $425 Million Coinbase Transfer</a> appeared first on <a href="https://36crypto.com" rel="noopener noreferrer nofollow">36Crypto</a>.

BlackRock Extends Bitcoin Selling Streak With $425 Million Coinbase Transfer

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