An unidentified wallet transferred 2,269 BTC, valued at over $171 million, to Coinbase Institutional. The transaction was identified by the blockchain tracking service Whale Alert.
This movement is part of a series of large inflows to the platform throughout 2026. In June, 2,537 BTC were deposited, followed by 2,874 BTC in July. Early September saw an inflow of 2,024 BTC, and approximately 853 BTC, worth about $65 million, were moved around September 15.
Coinbase Institutional provides custody and trading services for hedge funds, asset managers, and corporate treasuries. While the platform has seen significant deposits, Whale Alert has also recorded outflows to unknown wallets during the same period.
The source of the recent transfer remains anonymous, as large holders frequently use new addresses to maintain privacy. Analysts continue to monitor whether these assets remain in cold storage or are moved to trading infrastructure.
