- Coinbase’s XRP stash plunges, BlackRock link fuels market speculation.
- Whale Alert tracks $50M XRP transfer amid Coinbase holdings drop.
- Institutional demand through BlackRock reshapes Coinbase’s XRP reserve balance.
According to figures shared by analytics account XRPwallets, Coinbase has witnessed a dramatic plunge in its XRP reserves. The exchange has reduced its stash by over half a billion coins, a decline that redefined its status as one of the largest holders of the Ripple token in the world.
At the beginning of July, Coinbase was ranked as the fifth-largest XRP reserve exchange with 780.13 million. It was behind Upbit with 6.03 billion, Binance with 2.735 billion, Uphold with 1.907 billion, and Bithumb with 1.635 billion. The latest report ranks Coinbase far down, with the remaining 199.473 million XRP moving it to tenth place.
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1/2 Coinbase now has 200M XRP previously 750M XRP. Blackrock? See below article and tracking of Coinbase Cold Wallets.
200M??? I think what’s left is mostly retail XRP. I also believe Uphold, Binance, Upbit are similar. When Ripple starts sending all those XRP’s…. https://t.co/gfMYwnsTVw
— XRP_Liquidity (Larsen/Britto/Escrow/ODL/RLUSD) (@XRPwallets) September 1, 2025
BlackRock Connection Raises Eyebrows
According to XRPwallets, the steep decline in holdings may be connected to Coinbase’s recent partnership with BlackRock. The world’s largest asset manager joined hands with the exchange to open crypto access for institutional clients through its Aladdin platform. Starting with Bitcoin, but probably expanding to XRP, the program transferred a large portion of the coin into institutional custody.
This move highlights the increased influence of conventional finance in the development of crypto flows. As a conduit to BlackRock’s customers, Coinbase must have transferred XRP from its exchange reserves. This increased demand by large-scale investors is now reflected in the plunge in holdings, and these investors may be adding XRP to larger portfolios.
Whale Alert Adds to Market Speculation
As reported by 36crypto, a massive transfer of 16,594,920 XRP, valued at more than $50 million, was made into Coinbase. The inflow by an unidentified wallet provided even more speculation, as such flows tend to be related to liquidity events. This transfer timing has drawn the attention of the market since it comes on the heels of Coinbase’s XRP balance reduction, which is already being strained, reportedly due to the BlackRock collaboration.
Coinbase’s abrupt loss of XRP reserves illustrates how institutionalization is transforming the movement of digital assets. With BlackRock emerging as a likely driver behind the plunge and whale transfers adding to speculation, XRP’s position in the market is entering a new phase.
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