An address labeled “Anchorage Digital” received roughly 10,141 Bitcoin worth over $1.19 billion at current prices over nine hours, data from blockchain intelligence firm Arkham shows.
Anchorage Digital is a regulated cryptocurrency platform and the first federally chartered digital asset bank in the United States, founded in 2017. It provides institutional clients with services such as secure custody, trading, staking, settlement, and governance for cryptocurrencies.
It was unclear whether the inflows reflected principal purchases by Anchorage or client deposits held in custody, as the transfers originated from multiple sending wallets. Nevertheless, this large-scale transaction signals the firm’s role in facilitating major cryptocurrency transactions for institutional clients.
Several BTC treasury companies have tapped Anchorage’s custodial solution to safeguard their corporate Bitcoin stacks. Anchorage was named the exclusive custodian for KindlyMD’s BTC strategy following a merger with David Bailey’s Nakamoto Holdings. The match-up had raised $763 million to buy crypto’s largest asset as of June 20.
MARA, the largest BTC miner by holdings, also announced Anchorage Digital as its third custodian in 2023, while Nasdaq-listed property logistics firm Reitar named the federally chartered crypto bank as a backup custody service alongside Coinbase Prime.
In a separate alert, analyst Lookonchain said on X that a newly created wallet withdrew 3,500 BTC valued at approximately $414 million from a Gemini hot wallet over the past four days. The funds were withdrawn to an address “Volcon Gemini Custody”, according to Arkham data.
The Block previously reported that the electric car maker — which last week closed over $500 million in financing — is building a large BTC position for its corporate strategy.
The flows come as public entities accumulate cryptocurrencies like Bitcoin and Ether on their balance sheets, a corporate bet that prices will increase and accrue value to shareholders.
Companies like Strategy and SharpLink Gaming have spent billions of dollars raised from public markets and stock offerings to acquire cryptos. It’s estimated that over 200 firms have adopted a form of crypto reserve strategy, with the largest concentration present in BTC treasury companies, which hold over $91 billion in assets, led by Strategy’s 628,791 Bitcoin hoard, according to The Block’s data dashboard.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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