A wallet tagged as belonging to Anchorage Digital received a staggering 10,141 Bitcoin—worth approximately $1.19 billion—over the course of nine hours, according to data from blockchain analytics firm Arkham. The inflows originated from multiple sending wallets, raising questions about whether the transfer reflects principal purchases by Anchorage or institutional custody deposits made by clients.
Anchorage Digital, founded in 2017, is the first federally chartered digital asset bank in the U.S. and a regulated platform offering institutional-grade crypto custody, trading, staking, and governance solutions. The large-scale transaction highlights the firm’s growing role in facilitating high-value crypto operations for corporate clients and asset managers.
The transfer arrives amid a broader uptick in corporate Bitcoin strategies. Anchorage has served as a go-to custodian for major BTC treasury entities. In June, it was appointed as the exclusive custodian for KindlyMD following its merger with Nakamoto Holdings, a strategic union led by Bitcoin Magazine CEO David Bailey. The joint effort had raised $763 million to acquire Bitcoin as part of its long-term corporate treasury strategy.
Anchorage expands institutional reach as corporate Bitcoin adoption accelerates
Anchorage’s influence extends beyond custody partnerships. Marathon Digital Holdings (MARA), the largest Bitcoin miner by holdings, named Anchorage its third custodian in 2023. Real estate logistics firm Reitar, which trades on Nasdaq, has also designated Anchorage as its secondary custodian alongside Coinbase Prime.
In a separate event, blockchain intelligence firm Lookonchain reported that a new wallet withdrew 3,500 BTC—worth around $414 million—from Gemini’s hot wallet over the past four days. The receiving address, identified by Arkham as “Volcon Gemini Custody,” suggests growing off-exchange storage as institutional players shift funds to long-term custodians.
These movements come amid a wider corporate trend of crypto adoption. Over 200 public and private firms now reportedly hold digital assets on their balance sheets, with BTC treasuries accounting for more than $91 billion in holdings. Leading this strategy is Michael Saylor’s Strategy Inc., which controls 628,791 BTC according to The Block’s data dashboard.
As corporate adoption deepens and custodial flows rise, Anchorage Digital’s $1.19 billion BTC inflow underscores the scale of institutional conviction in Bitcoin’s long-term value proposition