BlackRock’s spot Ethereum exchange-traded fund (ETHA) has conducted a significant withdrawal from crypto exchange Coinbase Prime.
Within a remarkably short 30-minute window, the institutional ETF product moved 11,185 Ether (ETH) off the platform.
The value of the withdrawn Ethereum was approximately $27.2 million at the time of the transaction.
This substantial movement underscores the active operational management by BlackRock’s ETF team related to its spot Ethereum fund holdings.