Coinbase serves as custodian for 9 of the 11 spot Bitcoin ETFs and 8 of the 9 spot Ethereum ETFs in the US. This dominance translates to approximately $74 billion out of $91.7 billion in total Bitcoin ETF assets under management, representing roughly 80-84% of the market. The SEC’s approval of spot Bitcoin ETFs in January 2024 made Coinbase the natural choice for issuers seeking battle-tested cold storage infrastructure, regulatory relationships, and insurance frameworks. If Coinbase were to experience a significant operational issue, the impact could simultaneously affect 9 of the 11 Bitcoin ETFs using its custody services.
Source: Read the original article
