• BlackRock bought 4,044 BTC and 80,121 ETH from Coinbase worth $589 million in three days.
• BlackRock ETFs saw strong inflows while Fidelity ETFs experienced large outflows on November 26.
• Ethereum showed renewed momentum and institutional ETFs gained as professional investors increased positions.

BlackRock has significantly increased its crypto acquisitions, buying $589 million worth of Bitcoin and Ethereum from Coinbase. The purchases occurred as the crypto market shows signs of recovery. Institutional trading activity has also been rising.

According to Onchain Lens, citing Arkham data, BlackRock received 4,044 BTC and 80,121 ETH from Coinbase over three days. This acquisition includes $354 million in Bitcoin and $235 million in Ethereum at current market values. It ranks among the largest crypto accumulations by an institutional ETF issuer this month.

Large Transfers Highlight Strategic Moves

The transactions were executed in large batches. One notable transfer included 300 BTC alongside multiple ETH transfers within minutes. This pattern differs from BlackRock’s earlier activity when it moved millions in BTC and ETH to Coinbase. Market data indicates a clear correlation with Bitcoin’s price behavior. BTC recently rose to around $91,552 after an intraday correction.

The chart shows a buyer intervention near $91,000, signaling a market recovery after earlier price swings. SoSoValue data supports this trend, highlighting strong institutional interest in the current market environment.

ETF Inflows Favor BlackRock

On November 26, BlackRock’s IBIT ETF saw net inflows of almost $43 million, the highest among U.S. Bitcoin ETFs. By contrast, Fidelity’s FBTC experienced over $30 million in outflows, suggesting demand is shifting toward BlackRock.

Grayscale’s GBTC recorded a minor $5.63 million inflow, while other issuers remained largely net-neutral. Ethereum ETFs also showed strong movements. ETHA received $50.22 million in inflows, outpacing other Ethereum ETFs. Grayscale’s ETHE remained flat, and Fidelity’s FETH saw no notable change.

Growing Institutional Interest in Ethereum

Ethereum displayed renewed momentum, trading at approximately $3,022 after minor daily gains. Charts indicate a strong midday rise, followed by consolidation above $3,040 before a late pullback. Bitwise’s ETH ETF (ETHW) added nearly $4.4 million, while Grayscale contributed over $6 million to its second Ethereum ETF. BlackRock recently created a new Delaware trust that moves its Ethereum ETF plans toward a staking focused structure. 

This rising ETF demand reflects a broader increase in institutional exposure to digital assets. BlackRock’s recent BUIDL launch on the BNB Chain highlights the firm’s expanding role in crypto markets. These inflows suggest professional investors are positioning ahead of potential year-end catalysts.