BlackRock Deposits $248M in Crypto to Coinbase Prime

Edgen Crypto

·Feb 09 2026, 12:52

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Key Takeaways

BlackRock continues to build its crypto reserves for its spot ETFs, signaling sustained institutional interest. The asset manager moved nearly a quarter-billion dollars in Bitcoin and Ethereum to its custodian, Coinbase Prime, underscoring the operational mechanics behind managing massive fund inflows.

Massive Deposit: BlackRock transferred 2,268 Bitcoin (worth ~$156 million) and 45,324 Ethereum (worth ~$91.77 million) to Coinbase Prime.
Total Value: The combined value of the crypto assets deposited totals approximately $247.77 million.
Institutional Signal: This large-scale movement directly reflects ongoing inflows into BlackRock's spot crypto ETFs, indicating strong and persistent investor demand.

BlackRock Bolsters ETF Reserves with $248M Crypto Deposit

BlackRock has transferred a substantial amount of digital assets to its custodian, Coinbase Prime, to support its spot exchange-traded funds (ETFs). The transaction involved 2,268 Bitcoin, valued at approximately $156 million, and 45,324 Ethereum, valued at around $91.77 million. This combined deposit of nearly $248 million represents a significant operational move to ensure the firm's spot crypto ETFs are adequately backed by the underlying assets. Coinbase Prime serves as the custody partner for many of the largest spot ETF issuers, securing the digital assets on behalf of fund investors.

Sustained ETF Inflows Signal Strong Institutional Demand

The transfer is not a speculative trade but a direct consequence of persistent investor demand for BlackRock's spot Bitcoin and Ethereum ETF products. As investors purchase shares of the ETFs, the fund manager must acquire a corresponding amount of the actual cryptocurrency to hold in reserve, a process that drives accumulation. This ongoing accumulation by major institutional players like BlackRock effectively removes a significant volume of BTC and ETH from the active trading supply. By locking up these assets in custody, such actions reduce market liquidity and are viewed by analysts as a bullish long-term catalyst for asset prices.