Blockchain data analytics firm Arkham Intelligence detected a movement of 196.115 BTC, valued at about $12.55 million, from a FalconX hot wallet address to Bitwise's BITB Bitcoin ETF address. Additionally, approximately five hours ago, 2,009 ETH, valued at approximately $5.23 million, was transferred from a Kraken hot wallet address to Bitwise's ETHW Ethereum ETF address. This movement of crypto assets could be related to investment strategies, rebalancing, or other operational activities by Bitwise. However, the specific reason for these transfers remains unknown without official confirmation from the involved parties.