On-chain data indicates activity from wallets linked to major asset manager BlackRock, with over $153 million in Bitcoin and Ethereum moved to crypto exchange Coinbase.
On-chain data analytics platform Onchain Lens reports a transfer from Blackrock, which saw a significant amount of Bitcoin and Ethereum moved in recent hours.
Onchain Lens reported that Blackrock deposited 2,200 $BTC worth $149.13 million and 2,417 $ETH worth $4.84 million into Coinbase. The Bitcoin and Ethereum moved amounts of over $153 million in monetary terms.
Blackrock deposited 2,200 $BTC worth $149.13M and 2,417 $ETH ($4.84M) into #Coinbase and likely to deposit morehttps://t.co/pyOLoPpL7H?from=article-links pic.twitter.com/b1IFifmNeA
— Onchain Lens (@OnchainLens) March 9, 2026
BlackRock remains one of the most closely watched institutional participants on the crypto market, in light of its Bitcoin and Ethereum spot ETFs.
In the past week, a $BTC/$ETH ETF update shared by Arkham indicated BlackRock as the biggest Bitcoin and $ETH ETF buyer.
Bitcoin ETFs saw a positive weekly netflow of $568.5 million, with the biggest buyer being BlackRock’s IBIT, which attracted $660 million in inflows.
In a similar manner, Ethereum ETFs saw a positive weekly netflow of $23.5 million, with the biggest buyer being BlackRock’s ETHA — which attracted $133.2 million inflows.
The move to Coinbase remains significant, with the crypto exchange currently storing about 12% of all crypto assets in the world, as well as the majority of U.S. spot crypto ETFs.
Onchain Lens suggests that more deposits of $BTC and $ETH to Coinbase by BlackRock could follow. If this happens, it could suggest a rebalancing in crypto investment product portfolios.
BlackRock updates staked Ethereum Trust
BlackRock is increasing preparations for the launch of its iShares Staked Ethereum Trust, which will trade under the ticker ETHB.
In the past week, BlackRock updated its filing on the Ethereum Staking ETF (ETHB). The main change is to the staking fee, which will be 10% of rewards with a potential tiered discount. The last filing had the staking fee at “18% of Gross Staking.”
The world’s largest asset manager filed for the product following the success of its spot Ethereum ETF, ETHA.
No official launch date is set, but it is likely to be launched in the first half of 2026. This follows a shift in regulatory sentiment that now allows staking rewards to be incorporated into exchange-traded products, previously considered unlikely before this time by the SEC.
