- Large XRP transfers from Coinbase cold wallets have fueled speculation of institutional activity involving BlackRock.
- Over 16.5 million XRP moved recently, with on-chain data showing systematic wallet reductions.
- BlackRock uses Coinbase for XRP custody through its Aladdin platform, but there is no official spot XRP ETF filing.
- A BlackRock spokesperson confirmed, “No such product has been filed with the SEC.”
- Industry analysts link these wallet movements to custody changes and institutional positioning rather than market sales.
Major XRP transfers from Coinbase cold storage wallets have sparked discussion over possible institutional buying tied to BlackRock. In the past 24 hours, 16.5 million XRP were moved, leading investors to monitor whether these moves suggest a potential spot XRP ETF or broader institutional interest.
Coinbase‘s XRP cold wallets dropped from 52 to just 7 over a three-month stretch. Earlier, the exchange managed ten wallets with 26.8 million XRP each and 42 wallets holding 16.5 million XRP each; now only seven remain, each with 16.5 million XRP. These reductions appear systematic, according to on-chain data.
BlackRock uses Coinbase for institutional custody of XRP assets via its Aladdin platform. Despite increased market speculation, a BlackRock spokesperson stated, “No such product has been filed with the SEC.” Crypto analyst Crypto X AiMan noted that these changes likely relate to custody adjustments rather than direct market sales, saying, “Coinbase is not dumping the coin, despite claims circulating within the community. The reduction is more likely linked to BlackRock.”
Data show Coinbase‘s XRP holdings decreased from about 780 million tokens to 199 million in the second quarter of 2025. The company cut its holdings by 57% in August alone. Although industry experts do not consider these actions as market dumps, the changes have attracted attention to institutional activity in the space.
The SEC has also received additional filings from asset managers for spot XRP ETFs, indicating possible further interest. However, there is no direct confirmation linking the recent wallet reductions to a BlackRock purchase. Analysts stress that these moves reflect operational rebalancing, not immediate market sales.
XRP‘s market size makes it a key target for institutional use. Recent movements between Coinbase and BlackRock point to ongoing custody changes, but no official announcement has confirmed large institutional purchases. Investors are advised to rely on official statements and filings rather than speculation.
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