BlackRock transferred 54,096 ETH valued at approximately $132 million and 2,015 BTC worth nearly $154 million to Coinbase Prime, according to on-chain data tracked by Arkham Intelligence. The ETF-linked transaction involved roughly $286 million in combined crypto assets.

The deposit, representing a substantial volume of digital assets, is tied to the operational management of BlackRock’s iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA).

Coinbase Prime serves as the primary custodian and execution agent for BlackRock’s crypto ETFs. That means it handles everything from buying and selling to settlement and redemptions, all as outlined in BlackRock’s regulatory filings with the SEC.

On-chain monitoring services, including both…