"We do have pretty dominant market share in terms of custody for the ETFs. I see that as a strength. We're the trusted counterparty on the institutional side. I think we're far ahead there, and it's a great business for us,"
""80% plus market share,""
""paper Bitcoin""
""healthy and good.""
Coinbase holds more than 80% of custody for U.S.-listed spot Bitcoin ETFs and presents that concentration as a competitive strength. The firm positions itself as the trusted institutional counterparty and highlights custody revenue as an important business line. Custody infrastructure uses cold storage, regular penetration testing, audits, patents, and cryptographers to harden defenses. Large financial institutions and government clients conduct independent audits of custody arrangements. Competitors have captured limited market share to date as some larger funds diversify custodians while assets scale. Coinbase rejects claims about "paper Bitcoin" and emphasizes that spot ETFs must be fully backed by the underlying asset.
Read at Bitcoin Magazine
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