Major Ethereum Move by BlackRock
In a major development, BlackRock — the world’s largest asset manager — has deposited 34,777 Ethereum (ETH), valued at approximately $114.97 million, into Coinbase. The sudden and sizable transfer has caught the attention of both retail and institutional investors, sparking speculation about BlackRock’s next move in the crypto space.
The Ethereum transfer is one of the largest seen from a traditional financial institution and could indicate a significant shift in strategy, possibly linked to BlackRock’s ongoing interest in crypto-based exchange-traded funds (ETFs).
Ethereum ETF Speculation Grows
This deposit comes amid growing anticipation around the approval of a spot Ethereum ETF in the United States. BlackRock has already filed for an Ethereum ETF, following its successful move into the Bitcoin ETF market earlier this year. By transferring ETH to Coinbase — a major custodian and liquidity provider — BlackRock may be preparing for fund seeding or positioning itself for fast execution once regulatory approval is granted.
While there is no official statement from BlackRock confirming the reason for this deposit, the timing and size strongly suggest strategic intent rather than a routine transfer.
BREAKING: BlackRock just deposited 34,777 $ETH ($114.97M) to Coinbase. pic.twitter.com/yDUAAld2MX
— Coin Bureau (@coinbureau) November 5, 2025
Market Reaction and What Comes Next
The crypto market is already responding to the news, with Ethereum seeing a slight uptick as speculation mounts. Analysts and traders are keeping a close watch on BlackRock’s activity, as such large movements can serve as a bellwether for broader institutional involvement in crypto.
If BlackRock is indeed gearing up for ETF-related operations, this could mark another major milestone in Ethereum’s mainstream adoption. Whether this is a prelude to market-making, custody operations, or direct investment remains to be seen, but one thing is certain: institutional crypto adoption is far from slowing down.