Grayscale’s Massive Bitcoin, Ethereum, and Solana Deposits Spark Market Sell-Off Fears

The cryptocurrency market is reeling after Grayscale, one of the largest digital asset management firms, made massive deposits of Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) to Coinbase Prime on October 14. According to on-chain data shared by Lookonchain, Grayscale transferred 1,856 BTC, 29,718 ETH, and 10,516 SOL—worth roughly $358 million—prompting widespread speculation of a potential sell-off amid the ongoing market downturn.

This move comes as the broader crypto market faces intense selling pressure, with leading assets like Bitcoin and Ethereum trading in deep red. Analysts suggest that such large inflows to centralized exchanges typically signal potential selling activity, as institutions may be seeking liquidity to offload holdings. The timing of Grayscale’s transactions—originating from its Bitcoin Trust, Ethereum Trust, and Digital Large Cap portfolios—has fueled speculation that the firm might be preparing to reduce exposure during heightened volatility.

Grayscale’s decision has drawn attention because institutional movements often influence overall market sentiment and price trends. Investors interpret this latest activity as a possible sign of caution, with the firm potentially hedging against further losses amid macroeconomic uncertainty and declining crypto momentum. Other institutional players have reportedly made similar moves, adding to fears that the 2025 crypto bull run may have already peaked.

Following the deposits, market data from CoinMarketCap shows modest declines across major tokens, with Bitcoin slipping 2.13% to $112,607, Ethereum down 1.70% to $4,117, and Solana dipping 0.13% to $203. While Grayscale has yet to issue an official statement, traders are closely monitoring whether this development signals the start of a larger institutional sell wave—or merely a strategic portfolio rebalancing in a turbulent market.