BlackRock Transfers 1,633 Bitcoin to Coinbase Prime as ETF Tops $70 Billion

TLDR

• BlackRock transferred 1,633 BTC ($142.6M) to Coinbase Prime for ETF liquidity.

• IBIT has reached $70.7B AUM and broke ETF growth records in 341 days.

• IBIT generated $245M in annual fees, surpassing BlackRock’s S&P ETF.

• Harvard holds $443M in IBIT, making it 20% of its U.S. equity exposure.

BlackRock has moved 1,634 Bitcoin, valued at approximately $142.6 million, to Coinbase Prime, an institutional-grade platform used for large-scale custody and crypto trading. The transfer occurred during a period of high interest in Bitcoin exchange-traded funds, led by BlackRock’s iShares Bitcoin Trust (IBIT).

A spokesperson confirmed that the transfer was part of routine ETF liquidity operations. It is not necessarily a signal of selling pressure, but rather a reflection of internal fund management as market demand fluctuates. Coinbase Prime provides secure infrastructure for execution and settlement for institutional clients managing digital assets.

The movement of such a large volume of Bitcoin comes as investors closely watch ETF-related wallet activity for signs of inflow or potential rebalancing.

IBIT ETF Surpasses $70 Billion in Assets Under Management

BlackRock’s IBIT fund continues to break industry records. Launched in January 2024, it became the fastest-growing ETF in history, reaching $70 billion in assets in just 341 days. The product now holds over 3% of Bitcoin’s circulating supply, making it one of the largest institutional holders of the asset.

The fund has also generated an estimated $245 million in annual fees, outperforming BlackRock’s flagship S&P 500 ETF on revenue, despite being smaller in total assets. This success is attributed to IBIT’s 0.25% annual fee, which is higher than most traditional index funds, resulting in stronger returns for the firm.

IBIT recorded over $1.8 billion in trading volume within the first two hours of trading on Monday. However, by the end of the session, it posted $66 million in net withdrawals, contrasting with net inflows recorded by competing ETFs from Fidelity and ARK Invest.

Institutional Support for IBIT Expands

IBIT’s performance has attracted major institutional players, including Harvard University, whose endowment fund held $443 million in IBIT shares as of September 30, 2025. That investment represented more than 20% of Harvard’s U.S. equity portfolio.

Harvard’s move is notable, as university endowments typically avoid ETFs in favor of private equity or real estate. The increase in IBIT holdings signals a shift toward publicly traded crypto exposure among traditional institutions.

BlackRock itself also increased its exposure. The firm’s Strategic Income Opportunities Portfolio raised its IBIT position by 14%, signaling internal confidence in long-term growth for the product.

BlackRock Touts Tokenization as Next Market Infrastructure Shift

Beyond ETFs, BlackRock executives have expressed support for blockchain innovation.

CEO Larry Fink and COO Rob Goldstein wrote in The Economist that tokenization could mark the next major evolution in global financial systems.

They stated that blockchain-based settlement could offer faster, more secure asset transfers, replacing legacy systems. The firm sees digital infrastructure as a foundational part of future markets.

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