On-chain data shows that global asset management giant BlackRock has just made a big move—within 5 hours, it withdrew $67.48 million worth of crypto assets from exchanges. Specifically: 153.83 BTC (about $14.22 million) + 16,930 ETH (about $53.26 million).

Why has this Wall Street heavyweight, which manages nearly $10 trillion in assets, suddenly started “stockpiling” coins on such a large scale?

The answer isn’t hard to guess. BlackRock has had its eye on the spot Bitcoin ETF market for a while, and this on-chain transfer is likely to be a reserve for its products. Traditional finance is no longer just watching from the sidelines—it’s now actively allocating capital on-chain.

The timing is also quite interesting:
- The long-term effects of the Bitcoin halving are starting to take shape
- The Ethereum ecosystem is continuously evolving and upgrading
- Regulatory frameworks in various countries are becoming increasingly clear

What’s notable is that the value proportion of ETH in this transfer is significantly higher, suggesting that institutions may be even more interested in the Ethereum ecosystem than we thought.

For retail investors, this development signals a few things:

First, mainstream capital still recognizes the long-term value of core assets like BTC and ETH. Second, the institutional allocation model is changing—they’re no longer satisfied with just trading on secondary markets, but are directly “stockpiling” on-chain. Third, no matter how the market fluctuates, big money always prioritizes betting on fundamental infrastructure.

When Wall Street’s top players start moving coins on-chain like regular holders, the rules of the game in this industry have already changed.

The next question is: Who will be the second BlackRock?