Blackrock Deposit 101k ETH worth $372 million and 2,544 BTC worth $292 million into Coinbase Prime.

Key Insights

• Blackrock ETHA deposited 101,975 ETH worth $372 million and 2,544 BTC worth $292 million into Coinbase Prime.

• Blackrock selling could see ETH drop to $3.5k

Amid increased institutional demand for Bitcoin, Ethereum, and other crypto assets, BlackRock has emerged as a powerful force in the market. Through its ETFs ETHA and IBIT, BlackRock has accumulated a significant amount of BTC and ETH. Currently, Blackrock owns over 700k BTC, targeting 1 million BTC and over 600k ETH, as earlier reported by EMCryptohub.

With its massive ownership, BlackRock has a significant sway on the market trend. And its recent move to deposit massive BT and ETH on Exchanges has left everyone wondering. 

Is BlackRock Selling?

According to Blackrock, ETHA deposited 101,975 ETH worth $372 million and 2,544 BTC worth $292 million into Coinbase. In total, the asset manager deposited assets worth $664 million. In many cases, when large holders transfer assets such as Ethereum or Bitcoin, it indicates preparation to sell or intentions to sell. 

Source: Lookonchain

While we usually view such a move as an intention to sell, BlackRock's move has divided intentions, with some viewing it as preparations to sell. On the other hand, others view the recent move as a strategic reposition. 

For example, the White Whale on the official X account provided a detailed explanation of the potential reasons for this deposit.

White whale noted that he was 70%+ confident this is NOT a sell-off. In his explanations, he argued that 

"ETH ETF staking enablement is still pending - major narrative on the horizon. ETF flows have been red recently - liquidity movement may precede inflow reversal or redemptions"

He observed that the ETH price is stabilising and climbing amid neutral funding, with no panic selling behaviour. At the same time, the Coinbase ETH/USDT premium just flipped positive. Therefore, under these circumstances, this move does not look bearish in the current context.

If they wanted to sell into strength, they likely would have done it last week.

Instead, according to White Whale, 

"ETF inventory shuffle + Prime liquidity preload. Possibly ahead of either inflow resumption or narrative unlock "

For now, the one thing we can do is wait and see where this move will end up; either they will sell or stake.

Blackrock's Current Holdings

After the recent purchase, BlackRock owns approximately 741,055.2 Bitcoin as of August 1, 2025. Such massive holdings indicate that BlackRock is a major player, and if they panic sell, it will have an enormous impact on prices. The same case also applies to BlackRock's Ethereum holdings. Blackrock is now one of the largest holders of ETH, and they have continued to accumulate than ever before.

What Next for ETH Now

Notably, when large holders turn to selling, it causes downward pressure on the price. Therefore, if they turn to selling, it will pressure ETH downward, and we could see ETH drop to $3.5k or $3.3k. On the other hand, if they're not selling and are only repositioning their strategy, the market will hold at the current rate and continue to target $4k.