Sell-off warning! BlackRock has transferred over $130 million worth of BTC and ETH back to Coinbase

According to on-chain data analysis account OnchainLens monitoring, asset management giant BlackRock has once again deposited a large amount of Bitcoin and Ethereum into Coinbase today (March 10), totaling over $136 million. This move has attracted market attention, raising concerns about potential selling pressure.

(Background: BlackRock deposits 2,200 BTC and 2,417 ETH into Coinbase! Market alert for potential selling pressure)

(Additional context: BlackRock’s $26 billion private credit fund restricts withdrawals! Experts warn that the crypto and DeFi ecosystems may be impacted)

BlackRock’s recent on-chain activities have drawn significant market attention. According to the latest information posted by on-chain data analysis account OnchainLens on X platform, BlackRock-related addresses have recently transferred large amounts of Bitcoin (BTC) and Ethereum (ETH) into Coinbase’s institutional custody platform Coinbase Prime Deposit.

Blackrock deposited 1,133.78 $BTC worth $80.24M and 27,189 $ETH ($56.1M) into #Coinbase and likely to deposit morehttps://t.co/pyOLoPpL7H pic.twitter.com/Eh1eG7LkBO

— Onchain Lens (@OnchainLens) March 10, 2026

Major ETF Transfers Spark Market Concerns Over Potential Selling Pressure

According to screenshots from blockchain data platform Arkham Intelligence, the transfers mainly originated from BlackRock’s Bitcoin spot ETF (IBIT) and Ethereum spot ETF (ETHA).

In Bitcoin, BlackRock transferred multiple batches, including single transfers of 300 and 233.78 BTC, totaling approximately 1,133.78 BTC, worth about $80.24 million. For Ethereum, BlackRock transferred a total of around 27,189 ETH, including a single transfer of 10,000 ETH, with a total value of approximately $56.1 million. The combined assets transferred into Coinbase exceed $136 million.

Market participants generally interpret this wave of “inflows” as possibly related to future sales activities or ETF redemption operations by institutions. Whether this transfer of up to $136 million will exert actual selling pressure on the market remains to be seen, and investors should closely monitor subsequent market fluctuations and capital flows.