Coinbase Group Custodies 2.27 Million BTC, Representing 10.83% of Bitcoin's Supply

According to an X account, Sani, the founder of TimeChainIndex.com, the Coinbase group currently custodies a total of 2,275,123 BTC

Coinbase, the leading cryptocurrency exchange in the United States, now custodies a total of 2,275,123 BTC, which comprises roughly 10.83% of the flagship cryptocurrency’s maximum supply of 21 million, an X account, Sani, the founder of TimeChainIndex.com, highlighted on March 7, 2023.

Coinbase, the leading cryptocurrency exchange in the United States, now custodies a total of 2,275,123 BTC, which comprises roughly 10.83% of the flagship cryptocurrency’s maximum supply of 21 million, an X account, Sani, the founder of TimeChainIndex.com, highlighted on March 7, 2023.

A breakdown of the assets, as illustrated by the chart compiled by TimeChainIndex, reveals the following distribution across various sectors:

A breakdown of the assets, as illustrated by the chart compiled by TimeChainIndex, reveals the following distribution across various sectors:

Centralized exchanges (CEXs) hold a significant portion of the BTC, with a total of 1,105,318 BTC. Notably, Coinbase’s retail exchange alone custodies over 1 million BTC, with additional holdings also present in Revolut and Bitvavo.

Centralized exchanges (CEXs) hold a significant portion of the BTC, with a total of 1,105,318 BTC. Notably, Coinbase’s retail exchange alone custodies over 1 million BTC, with additional holdings also present in Revolut and Bitvavo.

The second-largest category, ETFs/ETPs, accounts for over 808,000 BTC, which is predominantly comprised of US ETFs that control a substantial share of the Bitcoin held by investment products.

The second-largest category, ETFs/ETPs, accounts for over 808,000 BTC, which is predominantly comprised of US ETFs that control a substantial share of the Bitcoin held by investment products.

Coinbase Prime Custody, a specialized service designed for institutional-grade asset storage, safeguards 137,947 BTC. At the same time, Coinbase Prime’s broader services, encompassing liquidity access and trading tools, contribute 106,541 BTC through funds and over-the-counter (OTC) services.

Coinbase Prime Custody, a specialized service designed for institutional-grade asset storage, safeguards 137,947 BTC. At the same time, Coinbase Prime’s broader services, encompassing liquidity access and trading tools, contribute 106,541 BTC through funds and over-the-counter (OTC) services.

Corporations, including MicroStrategy, Tesla, and SpaceX, collectively hold over 99,000 BTC, with MicroStrategy spearheading the list.

Corporations, including MicroStrategy, Tesla, and SpaceX, collectively hold over 99,000 BTC, with MicroStrategy spearheading the list.

According to an X post by “level39,” MicroStrategy disclosed in a February 2023 10-K filing that it holds its Bitcoin across multiple custodians, including Fidelity, to enhance the security and diversification of its assets.

According to an X post by “level39,” MicroStrategy disclosed in a February 2023 10-K filing that it holds its Bitcoin across multiple custodians, including Fidelity, to enhance the security and diversification of its assets.

Lastly, the data also highlights that miners, such as Hut 8, CleanSpark, Cipher Mining, and Bitfarms, hold around 17,609 BTC.

Lastly, the data also highlights that miners, such as Hut 8, CleanSpark, Cipher Mining, and Bitfarms, hold around 17,609 BTC.

This breakdown of Bitcoin custody underscores Coinbase’s substantial role in the cryptocurrency ecosystem, which may potentially open up avenues for centralization concerns.

This breakdown of Bitcoin custody underscores Coinbase’s substantial role in the cryptocurrency ecosystem, which may potentially open up avenues for centralization concerns.