According to @OnchainLens, an Arkham-labeled BlackRock wallet deposited 2,201 BTC worth $192.13M and 7,557 ETH worth $22.12M into Coinbase-labeled addresses, based on Arkham Intelligence transfer data. source: Onchain Lens post on X dated Dec 29, 2025; Arkham Intelligence BlackRock entity page Arkham Intelligence attributes the sender to BlackRock and the recipient to Coinbase within its entity graph for these transfers, indicating onchain movement between the labeled entities. source: Arkham Intelligence BlackRock entity page Coinbase Custody Trust Company is disclosed as the digital asset custodian for BlackRock’s iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust in SEC filings, providing relevant operational context for movements between BlackRock-labeled and Coinbase-labeled wallets. source: SEC EDGAR prospectus for IBIT by BlackRock; SEC registration and prospectus filings for iShares Ethereum Trust Exchange inflow metrics such as BTC and ETH Exchange Netflow are used by traders to track liquidity shifts around such transfers. source: CryptoQuant documentation for Exchange Netflow metric