People have been talking about BlackRock possibly selling $429 million worth of Bitcoin. The rumors have been floating around on X and in crypto communities for a few days now, so let’s find out what is actually going on behind this chatter.
Things heated up when blockchain data showed that 4,113 BTC, worth about $429.4 million, was recently transferred to Coinbase Prime, a platform institutions often use for trading or safekeeping.
That transfer happened just a couple of hours ago and immediately added fuel to the fire. Many assumed it was a sign of an impending sell-off.
The fact that it was linked to wallets believed to belong to BlackRock’s iShares Bitcoin Trust only intensified the speculation. After all, Coinbase Prime is where large firms execute trades, so people naturally drew connections.
But here’s the thing. While the transfer is real and confirmed on-chain, there has been no actual evidence of a sale. Bitcoin’s price remained stable, and market liquidity showed no significant change.
Since BlackRock uses Coinbase as its main custodian, those on-chain transfers aren’t really surprising.
There was no sudden spike in volatility. IBIT’s 90-day rolling volatility is currently at its lowest, a trend that’s helping bring in more large investors who prefer stable exposure over wild swings.
As per Arkham data, BlackRock’s holdings remain unchanged at around 664,954.7 BTC, consistent with the latest ETF filings. No sale announcement has been made, and there haven’t been any redemptions filed either.
So yes, the transfer happened. Yes, it involved a huge amount of Bitcoin. And yes, it came at a time when people were already speculating. But based on everything available right now, including blockchain data, ETF disclosures, and official responses, there’s no proof that BlackRock has sold any of its Bitcoin.
For now, it looks like just another case of crypto rumors getting ahead of reality. BlackRock has made no official confirmation of selling bitcoin.
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