BlackRock unwinds millions in BTC

There is no verified evidence that BlackRock began a fresh, multimillion-dollar Bitcoin unwind on Monday, April 27. The latest widely reported on-chain transfer tied to BlackRock was recorded on April 24, not today. (bingx.com) That April 24 move sent 12,080 ether worth about $27.9 million and 113.342 Bitcoin to a Coinbase Prime address, according to Arkham data relayed by market outlets. The transfer followed nearly a week without outbound activity from the tracked wallets. (bingx.com) A larger transfer was reported on April 8, when BlackRock ETF-linked wallets moved 8,513 ether and 416.654 Bitcoin, roughly $49 million combined, into Coinbase Prime. Those assets were associated with BlackRock’s iShares Ethereum Trust, ETHA, and iShares Bitcoin Trust, IBIT. (whale-alert.io) (coinalertnews.com) That distinction matters because a transfer to Coinbase Prime is not the same thing as a market sale. Coinbase says Prime is its integrated platform for institutional trading, custody, financing and execution, which means funds can move there for creations, redemptions, rebalancing or settlement. (coinbase.com) BlackRock’s own fund materials also identify Coinbase Prime as part of the operating stack around its crypto exchange-traded funds. The iShares Bitcoin Trust and iShares Ethereum Trust pages both describe Coinbase Prime as a full-service prime broker affiliated with the trusts’ custodian. (ishares.com 1) (ishares.com 2) The broader flow picture also cuts against a simple liquidation story. U.S. spot Bitcoin exchange-traded funds posted a ninth straight day of net inflows on April 24, while spot Ethereum funds also recorded net inflows that day, even though BlackRock’s ETHA showed a modest daily outflow. (bingx.com) (cb-terminal.dev) BlackRock’s Bitcoin fund has been adding, not shrinking, over the course of 2026. By April 24, IBIT held about 811,981 Bitcoin, up more than 41,000 coins from the start of the year, based on BlackRock data analyzed by Finbold. (finbold.com) That does not mean traders were wrong to watch the wallets. Large transfers into Coinbase Prime can increase expectations of near-term execution, and crypto desks often treat those moves as a live signal for possible selling pressure. (tradersunion.com) (coinbase.com)) The cleaner reading is narrower: BlackRock-linked wallets have recently moved Bitcoin and ether into Coinbase Prime, but the public record does not confirm a new Monday unwind or prove those transfers were outright sales. Until BlackRock discloses fund flows or counterparties, on-chain watchers can show movement, not motive. (coinbase.com) (whale-alert.io)