Two Bitcoin wallets inactive since 2017 have transferred 8,000 BTC under the custody of Coinbase Prime. Linked to Xapo Bank, the movement represents strategic institutional repositioning rather than retail trader activity or ETF-related flows.
The transfer aligns with Coinbase’s 2019 acquisition of Xapo’s institutional custody business, which consolidated over 514,000 BTC holdings under Coinbase Custody. Such movements between institutional custody solutions indicate operational reshuffling within corporate treasury strategies.
Analysis points to an Over-the-Counter (OTC) transaction designed to avoid market disruption. CryptoQuant data confirms this was likely a liquidity replenishment for OTC desks—standard procedure for fulfilling large corporate orders without impacting spot markets.
The reactivation highlights institutional custody providers’ role in enabling discreet large-scale transfers. Coinbase Prime’s infrastructure allows entities to execute significant bitcoin reallocations while prioritizing price stability and settlement efficiency, reflecting deepening institutional adoption patterns.