Multicoin Capital Transfers Entire AAVE Holdings to Coinbase Prime
- On May 16, Multicoin Capital deposited all its remaining Aave (AAVE) tokens, totaling 286,057, into Coinbase Prime.
- The fund initially purchased a total of 338,005 AAVE tokens at an average price of $218 per token in late 2025.
- With AAVE’s current price around $89, the value of Multicoin’s position has decreased by nearly $40 million from its original $73.7 million investment.
- The deposit to Coinbase Prime suggests a potential structured over-the-counter (OTC) exit strategy for the large token batch.
Multicoin Capital’s decision to move its entire AAVE holdings to Coinbase Prime highlights a significant shift in strategy following substantial unrealized losses on their initial investment. This action aligns with historical patterns where institutional funds use such deposits as precursors to large OTC transactions.
Despite Bitcoin reaching new highs in recent years, DeFi governance tokens like AAVE have underperformed, leading to strategic reassessments by investors like Multicoin Capital. (Source)
