Recently, on-chain data has sparked heated discussions in the market—BlackRock had a massive asset transfer in September 2025: approximately $640 million worth of $BTC and $ETH was transferred to Coinbase Prime, including over 117,000 ETH and over 1,100 BTC. This operation is interpreted as possibly being related to ETF liquidity management or portfolio rebalancing.
It is noteworthy that, although the Ethereum ETF (ETHA) has recently experienced significant capital outflows, BlackRock's Bitcoin ETF (IBIT) continues to see stable net inflows.
Looking back at August, BlackRock's stance was completely opposite—operating in a frenzied accumulation mode. In mid-August alone, they purchased 150,000 ETH in one go, directly leading to the Ethereum ETF setting a record for a single-day inflow of $1 billion, and pushing ETH prices to strengthen rapidly.
Currently, the positions managed by BlackRock are astonishing:
745,000 BTC (approximately 3.5% of the total network circulation)
3.6 million ETH
There is no doubt that BlackRock has become one of the heaviest institutional players in the Bitcoin and Ethereum space, with its capital flows essentially serving as the "barometer" for the entire market. $ETH #BinanceAlphaAlert
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