- Fidelity wallet moved 14,978 ETH to Coinbase in two transactions.
- BlackRock deposited $664M worth of BTC and ETH to Coinbase Prime.
- Transfers suggest liquidity positioning or potential ETF fund rebalancing strategies.
A Fidelity-linked wallet and BlackRock’s crypto ETFs have moved substantial amounts of Ethereum and Bitcoin to Coinbase. Arkham Intelligence data shows that the combined value of these transfers exceeds $717 million.
Fidelity Wallet Transfers 14,978 ETH to Coinbase
Arkham Intelligence recently reported that a wallet associated with Fidelity made a major Ethereum deposit to Coinbase. Within the last 10 minutes, the wallet transferred 14,978 ETH, valued at $53.57 million.
The deposits were split into two transactions: 10,000 ETH worth $35.77 million and 4,978 ETH valued at $17.8 million.
Before this activity, the same wallet received 6,000 ETH from an address labeled “Fidelity Custody.” This incoming transaction suggests the ETH was moved from a custody solution before being sent to the exchange
The wallet’s interaction with both a custody address and Coinbase points to a deliberate execution strategy.
BlackRock Transfers Over $664M in BTC and ETH to Coinbase Prime
BlackRock also moved large volumes of crypto assets earlier today, according to Arkham Intelligence. Three hours prior, its Bitcoin ETF, IBIT, deposited 2,544 BTC valued at $292 million into Coinbase Prime.
The Bitcoin was transferred in multiple transactions, each involving 300 BTC.
Simultaneously, BlackRock’s Ethereum ETF, ETHA, transferred 101,975 ETH to Coinbase Prime. The total value of the ETH transfer was estimated at $372 million.
The Ethereum movement was executed in several batches of 10,000 ETH. These systematic transfers suggest institutional coordination and structured liquidity positioning on a centralized exchange.
The combined total of BlackRock’s BTC and ETH transfers amounts to $664 million. These activities underline ongoing institutional involvement in crypto markets and hint at possible fund adjustments or preparation for future trades.
CoincryptoNewz previously reported that Bitcoin faced a late-July price decline following ETF outflows and weakening demand signals. CryptoQuant data indicated rising sell-side liquidity, a falling liquidity inventory ratio, and short-term hesitation among institutional investors.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
