Coinbase-Linked Transfers Reach $280.4 Million as 982 Bitcoin Leads

Four large transfers involving Coinbase Institutional moved $280.4 million in Bitcoin and Ether during the three hours ending Oct. 19 at 11:07 a.m. ET, with withdrawals exceeding deposits by $8 million.

Bitcoin (BTC) accounted for the largest move: 982 BTC valued at $80.7 million went from an unknown wallet to Coinbase Institutional at 10:36 a.m. ET. Ether (ETH) and BTC made up the other three transfers. At 10:20 a.m. ET, 30,992 ETH worth $74.1 million left Coinbase Institutional for an unknown new wallet; at 10:35 a.m. ET, 853 BTC valued at $70.1 million also moved from Coinbase Institutional to an unknown new wallet. Another 23,199 ETH worth $55.5 million arrived from an unknown wallet at 10:20 a.m. ET.

The two withdrawals added up to $144.2 million, while the two deposits totaled $136.2 million. BTC and ETH each moved in both directions during the period.

These transactions show assets moving to and from Coinbase Institutional, but do not establish whether deposited tokens were sold or how long withdrawn assets will remain outside the exchange.