BlackRock adds another 2,200 BTC and 2,417 ETH to Coinbase! Market alert for potential selling pressure

On-chain data tracking account @OnchainLens disclosed that BlackRock’s Bitcoin ETF (IBIT) and Ethereum ETF (ETHA) addresses transferred approximately 2,200 BTC (about $149 million) and around 2,417 ETH (about $4.84 million) into Coinbase Prime deposit addresses today (March 9), with potential ongoing transfers. Such transactions are often interpreted by the market as preemptive moves related to institutional portfolio adjustments or ETF share redemptions, which could create potential selling pressure in the market.

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

@OnchainLens posted that multiple on-chain addresses associated with BlackRock’s Bitcoin ETF (IBIT) and Ethereum ETF (ETHA) today collectively transferred about 2,200 BTC (roughly $149 million) and approximately 2,417 ETH (around $4.84 million) into Coinbase Prime deposit addresses, with indications that more transfers may follow.

According to on-chain records from Arkham Intelligence, these transfers were executed in batches of 300 BTC each, all flowing into addresses marked as Coinbase Prime deposits. Such transfers from ETF custody addresses to exchanges are generally interpreted by the market as preemptive actions related to ETF share redemptions or portfolio adjustments, potentially exerting downward pressure on spot prices.

However, it is important to note that Doinq cannot independently verify BlackRock’s specific intentions behind these operations. Investors should remain cautious, as there has been no official confirmation.

Blackrock deposited 2,200 $BTC worth $149.13M and 2,417 $ETH ($4.84M) into #Coinbase and likely to deposit more https://t.co/pyOLoPpL7H pic.twitter.com/b1IFifmNeA

— Onchain Lens (@OnchainLens) March 9, 2026