For the past 83 days, Coinbase Global, Inc. saw a massive influx of Bitcoin and won around $23 billion worth of coins.
Tesla's BlackRock, Strategy – They're all hiding BTC in Coinbase
Publicly available company Coinbase (NASDAQ:COIN) not only operates exchanges, but also provides payment solutions, management services and more to a wide range of companies. In early May, Bitcoin.com News reported that Onchain data from TimeChainIndex.com showed that Coinbase was protecting 2719 million BTC.
That figure has jumped to 200,075 BTC ($2.3 billion+) over the past two months and 22 days. Coinbase holds an incredible 2,919,643 Bitcoins under its control, making it the central safe for a variety of institutional players. Large chunks (1,144,676 BTC) are allocated to exchange sales funds (ETFs) and exchange sales products (ETPs).
Coinbase Bitcoin is located under the Management Brain Diagram via TimeChainIndex.com.
BlackRock's IBIT fund will lead the pack at 736,664 BTC, warping other publishers such as Grayscale's GBTC (181,387 BTC) and ARK Invest's ARKB (49,226 BTC). Grayscale's SBTC and GDLC funds hold 45,814 and 5,758 BTC, respectively. Bitwise, objective investments and 21 shares each contribute to tens of thousands of people.
Meanwhile, companies like ETC Group, Wisdomtree, Valkyrie, Invesco, Franklin Templeton, 3iq and Osprey Fund will round out the mix with a small allocation of 12,377 BTC to 1,573 BTC. Next, there is an intensive exchange (CEXS) that collectively stores 1,045,213 BTC. Coinbase's own reserve is the lion's share of the here 986,518 BTC.
Bitvavo (28,974 BTC), Revolut (28,327 BTC) and Newton (1,394 BTC) make up the remaining BTCs in Coinbase's CEX Caches under management. Corporate Holdings accounted for 322,148 BTC, and was overwhelmingly led by a strategy of 302,353 BTC. Tesla holds 11,509 BTC, while SpaceX adds an additional 8,285 BTC to the pile.
The TimeChain Index data further shows Coinbase Custodies 255,050 BTC on behalf of the client through the Coinbase Prime Custody Service. An additional 60,351 BTC is found in the general Coinbase Prime account, with Abraxas Capital contributing to 20,983 BTC.
In-store (OTC) desk stores 81,334 BTC, and Coinbase also manage 52,877 BTC of Wrap Bitcoin (CBBTC) in its contract wallet. Finally, the miners maintain 18,345 BTC on the platform, rolling up HUT8 (8,976 BTC), CleanSpark Inc. (8,707 BTC), Crypto Mining (449 BTC), and Bit Farm (213 BTC) to the bottom.
Overall, statistics are clearly illustrated. Coinbase has become Bitcoin custody of the facility, which serves as the silent powerhouse behind BTC's growing appetites in Wall Street and Silicon Valley.
