Coinbase is managing 2.7 million Bitcoin, valued at approximately $261 billion, for major clients including Wall Street firms, tech giants, and mining companies.
Coinbase, a cryptocurrency exchange based in San Francisco (Nasdaq: COIN), is quietly operating one of the world's largest digital asset storage facilities. According to on-chain data from timechainindex.com, the company is currently overseeing 13.7% of the total circulating bitcoin, equivalent to 2.7 million BTC with an estimated value of $261 billion at current prices.
Beyond operating an exchange, Coinbase also serves as a custodian for massive asset blocks from diverse partners. Data shows the total bitcoin from direct client assets reaches 1,045,246 BTC. Additionally, the company provides custody services for partners like Revolut (28,536 BTC), Bitvavo (22,695 BTC), and Newton (1,480 BTC).
Custody Center for ETFs and Large Tech Companies
Holding a particularly important position in Coinbase's client portfolio is BlackRock, with its Ishares Bitcoin Trust ETF (IBIT) quickly accumulating 607,086 BTC, becoming the largest ETF custody by Coinbase. Following is Grayscale's GBTC with 189,416 BTC, while emerging ETFs like Ark Invest with 21shares and Bitwise bring the total Bitcoin in ETF/ETP funds to over 1 million BTC.
Coinbase's custody role extends beyond ETFs. The company manages MicroStrategy's Bitcoin reserve – still larger than most other public companies. Simultaneously, Coinbase is responsible for digital asset custody for large tech corporations like Tesla and SpaceX, holding 11,509 BTC and 8,285 BTC respectively.
Through its Prime Custody service and OTC (over-the-counter) trading desks, Coinbase serves both crypto-native funds and traditional financial institutions (TradFi), acting as a bridge between these two financial worlds.
Notably, most top ETF issuers – BlackRock, Ark Invest, Bitwise, Franklin Templeton, and Grayscale – have chosen Coinbase as their primary bitcoin custody provider. In contrast, Fidelity with its FBTC fund has deployed its own custody system through the Fidelity Digital Assets platform.
