Coinbase Holds a Significant Quantity of Bitcoin

According to blockchain analysis platform Glassnode, the US cryptocurrency exchange Coinbase currently holds around 4% of all circulating Bitcoin (BTC) tokens.
Information shows that the leading cryptocurrency exchange platform holds approximately 839,000 BTC.
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Glassnode states:
As an organization, Coinbase manages a significant portion of the exchange’s total balance and the balance of the US exchange-traded fund (ETF) through its custody services.
It is believed that Coinbase Exchange and Coinbase Custody hold around 270,000 BTC and 569,000 BTC respectively.
As an entity, Coinbase holds the majority of foreign exchange balances and US spot ETF balances through its custody services.
The estimated holdings for Coinbase Exchange and Coinbase Custody are currently 2.7 million and 5.69 million bitcoins respectively.
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– glassnode (@glassnode)
June 17, 2024