BlackRock's ETF-related wallets transferred 3,215 BTC (approximately $262.41 million) and 38,882 ETH (approximately $93.22 million) to Coinbase Prime within a two-hour window on October 23. The combined transfers total roughly $355.63 million. The purpose of the deposits remains unclear. On-chain analysts caution that transfer records alone do not confirm whether the movement signals an imminent sell-off or serves another operational function.