A wallet associated with BlackRock has transferred 2,156 BTC, valued at approximately $186 million, to Coinbase Prime. Analysts interpret this move as routine ETF liquidity and settlement activity, rather than an indication of sell pressure. Such institutional Bitcoin transfers are typically linked to ETF share creation and redemption, over-the-counter settlement, custodial rebalancing, and treasury operations. Coinbase Prime serves as an institutional settlement platform, distinct from retail exchanges. Analysts suggest that this transfer is part of scheduled liquidity or custodial processes, rather than speculative trading. Observers are closely monitoring on-chain activity for further signs of ETF share creation, redemption, or additional institutional flows.