Coinbase dominates custody for majority of spot ETFs, says Bitwise

Coinbase now holds custody for most spot Bitcoin and Ethereum ETFs in the U.S. This concentration of assets with a single custodian could create significant systemic risk for the digital asset market.
Key takeaways
- Coinbase custodies 90% of spot Bitcoin ETFs
- Eight of nine spot Ethereum ETFs also use Coinbase
- Concentration raises concerns about market systemic risk
- Potential for increased regulatory oversight
Why it matters
Users of AI tools in finance should monitor this development. A failure at Coinbase could disrupt crypto ETF operations, impacting investment tools and strategies that rely on these products.
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