Eight of the top 10 public companies that own Bitcoin are dependent on Coinbase. It also protects an astounding 81% of ETFS’ $140 billion crypto assets.
US $140 Billion Crypto ETF: Coinbase Management
Crypto Exchange Coinbase (NASDAQ:COIN) has increased its presence in crypto custody rights within facilities, reflecting its expansion in financial infrastructure supporting the digital assets of businesses and trade funds (ETFs). Coinbase CEO Brian Armstrong shared on social media platform X on June 27 that its institutional division is making significant profits among publicly available companies and ETF providers.
Armstrong said:
Our institutional team is crushing it – two great statistics from this week’s QBR.
First off, eight of the top 10 companies that hold Bitcoin on their balance sheet use Coinbase Prime. Second, $140 billion in crypto assets are held in US ETFs, with 81% of them being stored in Coinbase. He added that the company has been tracking over 50 new ETF filings since the start of the year.
The announcement followed Coinbase’s Quarterly Business Review (QBR), an internal meeting to assess performance and set strategic priorities. Armstrong’s comments focus on institutional growth and show a greater presence in the ETF market. The statistics highlight the role of Coinbase in providing digital assets custody and execution services to high-value clients.
The coin hit a new all-time high of $382.00 on June 26th, closing the day at $375.07. This surge reflects the prospects of favourable legislative activities, including broader crypto market gatherings, increased institutional adoption, and the potential passage of the stability genius law.
Coinbase Custody plays a central role in heavyweight clients such as BlackRock and Strategy, protecting a considerable amount of Bitcoin Holdings. BlackRock uses Coinbase Prime to secure BTC with ISHARES BITCOIN TRUST (IBIT) ETF, but the strategy leaves custody of Bitcoin reserves to Coinbase, deriving the platform’s relevance in institutional asset protection.
