Reviewed by Gotrade Internal Analyst
Jakarta, Gotrade News - BlackRock, the world's largest asset manager, just made a massive move in the crypto market right on Christmas Eve. This transaction caught investors' eyes as it involved moving over $200 million in assets to Coinbase.
This institutional activity comes just as the market is struggling to break through key price resistance levels.
Key Takeaways
- BlackRock moved thousands of Bitcoin and Ethereum to Coinbase, sparking speculation of a sell-off.
- Some assets were immediately bought back, indicating this is likely just portfolio restructuring.
- Bitcoin and Ethereum prices remain stuck below key levels due to thin holiday liquidity.
On-chain data shows BlackRock deposited 2,292 Bitcoin and 9,976 Ethereum into Coinbase Prime on December 24.
According to data from Arkham Intelligence, the total transfer value hit around $230 million.
However, just hours after the outflow, BlackRock was spotted buying back some of its assets. They added 499 Bitcoin and 1,511 Ethereum back into their portfolio.
This quick buyback calms fears that the initial transfer was a total sell-off or asset "dumping."
Currently, BlackRock still holds crypto assets totaling $77.6 billion, with the lion's share in Bitcoin.
Restructuring Signal or Market Pressure?
This fund movement happened while the crypto market is trending somewhat bearish. Bitcoin, the "digital gold," is still trading below the $87,000 level, failing to follow the rally of other macro assets.
Meanwhile, Ethereum is still stuck below $3,000, likely pressured by institutional outflows over the past week.
According to a Finbold report, institutional outflows from Ethereum reached nearly $160 million in the last seven days.
The combo of thin holiday liquidity and institutional maneuvers like this often creates short-term price volatility that you need to watch out for.
Reference:
- Finbold, BlackRock moves $200m of these two cryptocurrencies on Xmas Eve. Accessed on December 26, 2025
- Featured Image: Shutterstock
Disclaimer
Gotrade is the trading name of Gotrade Securities Inc., registered with and supervised by the Labuan Financial Services Authority (LFSA). This content is for educational purposes only and does not constitute financial advice. Always do your own research (DYOR) before investing.
