Coinbase CEO Brian Armstrong announced the company serves as the custodian for more than 80% of assets held in U.S. spot Bitcoin and Ethereum exchange-traded funds (ETFs). This market share underscores the firm's pivotal role as traditional financial institutions expand their cryptocurrency investment products.
By securing the majority of these investment vehicles, Coinbase has established itself as a primary partner for major financial players entering the digital asset space. The company maintains this position through a focus on security and continuous innovation of its custody solutions.
Armstrong noted that the firm conducts regular penetration testing with global cryptography experts. These protocols protect the billions of dollars in assets held for ETF issuers and other institutional clients.