Eight of the highest 10 bitcoin-holding public companies depend on Coinbase, which now additionally custodies an astounding 81% of the $140 billion in crypto belongings held by ETFs.
$140 Billion in US Crypto ETFs: Coinbase Custodies 81% of Complete
Crypto alternate Coinbase (Nasdaq: COIN) is rising its presence in institutional crypto custody, reflecting its increasing function within the monetary infrastructure supporting digital belongings for companies and exchange-traded funds (ETFs). Coinbase chief government officer Brian Armstrong shared on social media platform X on June 27 that the corporate’s institutional arm has made notable beneficial properties amongst publicly traded companies and ETF suppliers.
Armstrong acknowledged:
Our institutional crew is crushing it – two superior stats from our QBR this week.
The primary, in line with Armstrong, is that eight of the highest 10 publicly traded firms holding bitcoin on their stability sheets use Coinbase Prime. The second is that $140 billion in crypto belongings are held in U.S. ETFs, with 81% of that saved with Coinbase. He added that the corporate has tracked greater than 50 new ETF filings because the starting of the yr.
The announcement adopted Coinbase’s quarterly enterprise overview (QBR), an inner assembly to evaluate efficiency and set strategic priorities. Armstrong’s feedback point out a concentrate on institutional development and a bigger presence within the ETF market. The statistics spotlight Coinbase’s function in offering digital asset custody and execution providers for high-value shoppers.
COIN hit a brand new all-time excessive of $382.00 on June 26, closing that day at $375.07. The surge displays a broader crypto market rally, rising institutional adoption, and favorable legislative prospects, together with the potential passage of the GENIUS Act for stablecoins.
Coinbase Custody performs a central function for heavyweight shoppers like Blackrock and Technique, safeguarding their substantial bitcoin holdings. Blackrock makes use of Coinbase Prime to safe BTC in its Ishares Bitcoin Belief (IBIT) ETF, whereas Technique additionally entrusts Coinbase with custody of its bitcoin reserves—underlining the platform’s relevance in institutional-grade asset safety.
