BlackRock Transfers $278M in BTC and ETH to Coinbase Amid ETF Outflows
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jan 08 2026- Fund Transfers: BlackRock recently transferred 2,164 BTC, valued at approximately $195 million, and 26,704 ETH, worth around $83 million, to Coinbase-linked wallets, a move that has drawn market participants' attention and may signal upcoming market activity.
- ETF Redemption Pressure: On January 7, Bitcoin ETFs recorded nearly $480 million in net outflows, with BlackRock's Bitcoin fund accounting for about $130 million of those withdrawals in a single day, indicating that selling pressure is widespread across the sector rather than concentrated on a single provider.
- Ethereum Outflow Trends: Ethereum-focused funds also experienced similar patterns, with daily net outflows reaching nearly $98 million, while BlackRock's ETHA fund reported over $6 million in redemptions, suggesting a rising risk-averse sentiment among investors in crypto assets.
- Increased Market Volatility: Following these developments, Bitcoin prices dropped below $90,000 after briefly trading above $94,000 earlier in the week, reflecting growing investor concerns over macroeconomic and liquidity factors, with market sentiment likely to fluctuate further due to the upcoming U.S. initial jobless claims report.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
