A transaction involving 1,700 BTC, valued at approximately $142 million, was moved from Coinbase Institutional to an unidentified wallet. The movement was detected by the blockchain tracker Whale Alert.
This event follows a series of large-scale transfers recorded in 2026. In June, 2,258 BTC worth $132 million left the platform, while August saw an outflow of 659 BTC valued at $52 million. Shortly before the latest transaction, 826 BTC worth $70 million were also moved.
The platform also recorded significant inflows. Prior to the recent outflow, Coinbase Institutional received 2,269 BTC worth $171 million and 2,400 BTC valued at $202 million from external sources.
Coinbase Institutional serves hedge funds, family offices, and spot Bitcoin ETF issuers. The implied price per Bitcoin in the latest transaction is approximately $83,500.
