BlackRock-Linked IBIT Wallet Moves 1,698 Bitcoin to Coinbase Prime

A wallet linked to BlackRock’s IBIT Bitcoin ETF sent 1,698 Bitcoin (BTC), valued at about $135.59 million, to Coinbase Prime on Oct. 27, adding a new BTC-only movement to the fund’s recent exchange transfers.

The latest movement included no Ether (ETH).

On Oct. 13, IBIT-linked wallets sent Bitcoin and Ether worth about $202.54 million to Coinbase Prime. A second BTC-and-ETH transfer on Oct. 19 was valued at $143.04 million. The Oct. 27 transfer was smaller than either earlier move and differed because it contained Bitcoin alone. The three October transfers totaled about $481 million.

The flow has also gone in the opposite direction: BlackRock-related ETF wallets received Bitcoin and Ether from Coinbase on Aug. 25 and Aug. 27.

The transaction establishes that 1,698 BTC reached Coinbase Prime. It does not confirm a sale or explain why the address moved the coins.