According to on-chain data detected by BlockBeats’ OnchainLens, BlackRock’s IBIT wallet has transferred a significant amount of cryptocurrencies to a centralized exchange (CEX) within the past hour.

The monitoring data shows that 1,198 Bitcoins, valued at roughly $129 million, and 15,121 Ethereum, worth about $56.1 million, were deposited to the exchange. The total value of the transfer stands at approximately $185 million.

While the purpose of the transfer remains unclear, such movements from large institutional wallets to exchanges often attract market attention, as they can signal potential liquidation, portfolio rebalancing, or internal fund management activities.

BlackRock’s iShares Bitcoin Trust (IBIT) has been among the top-performing Bitcoin ETFs since its launch, consistently ranking near the top in both BTC holdings and inflows. However, large-scale fund movements to exchanges can trigger speculation regarding short-term market sentiment or strategic repositioning by institutional players.

At the time of reporting, Bitcoin was trading around $108,000 and Ethereum near $3,710, both showing moderate intraday volatility.