Coinbase Custody
Coinbase Custody Trust Company is the institutional digital asset custody arm of Coinbase Global Inc., providing SEC-qualified cold storage custody for asset managers, ETF issuers, banks, and corporate treasuries. It serves as primary custodian for 9 of 11 SEC-approved US spot Bitcoin ETFs, with Coinbase Prime overseeing roughly $330 billion in institutional assets.
- Company typePrivate
- Founded2018
- HeadquartersSan Francisco, United States
- Headcount—
- GTM typeB2B
- OfferingServices
What Coinbase Custody does
Coinbase Custody Trust Company is the institutional digital asset custody subsidiary of Coinbase Global Inc. (NASDAQ: COIN), founded in 2018 and headquartered in San Francisco. The company provides institutional-grade cold storage custody, qualified custodian services under SEC regulatory frameworks, and operates as the primary custodian for 9 of 11 SEC-approved US spot Bitcoin ETFs, including BlackRock's iShares Bitcoin Trust (IBIT, over $40B AUM), Morgan Stanley's Bitcoin Trust, and products from Grayscale, Bitwise, Franklin Templeton, VanEck, 21Shares, and Canary Capital. Coinbase Prime oversees roughly $330 billion in institutional assets, and the broader institutional crypto custody market is estimated at $683 billion with banks and ETFs comprising over 65% of activity. The company has expanded internationally through the European market via CaixaBank (MiCA-authorized CASP partnership in Spain) and serves institutional clients across the US, UK, Germany, Spain, and Canada.
The company's technology stack is built around physical cold storage vault infrastructure, multi-layered security architecture, and a regulatory-compliant operational framework. Key capabilities include dual-custodian arrangements (e.g., Coinbase Custody and BNY Mellon co-serving Morgan Stanley's Bitcoin ETF), integrated staking services for proof-of-stake assets (Ethereum, Solana) through partnerships with Figment, Galaxy, and Coinbase Canada, and Bitcoin-backed credit collateral management (e.g., $200M facility for Hut 8 Mining with Coinbase Credit). Revenue is generated predominantly through recurring basis-point fees on assets under custody for ETF issuers and direct institutional clients including asset managers, hedge funds, family offices, corporate treasuries (e.g., GameStop), mining companies, and crypto-native firms (e.g., FalconX). The 2019 acquisition of Xapo's institutional custody business expanded early institutional capabilities, and the company has progressively captured dominant share in the regulated US spot crypto ETF custody market.
Coinbase Custody firmographics
Firmographics- Name
- Coinbase Custody
- Legal name
- Coinbase Custody Trust Company
- Website
- https://custody.coinbase.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Short description
- Coinbase Custody Trust Company is the institutional digital asset custody arm of Coinbase Global Inc., providing SEC-qualified cold storage custody for asset managers, ETF issuers, banks, and corporate treasuries. It serves as primary custodian for 9 of 11 SEC-approved US spot Bitcoin ETFs, with Coinbase Prime overseeing roughly $330 billion in institutional assets.
- Ownership category
- akta.pro rank
Coinbase Custody industry classification
Industry- Product category
- Institutional Digital Asset Custody
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Digital Asset Custody (Institutional Crypto Custody) (FSAFAHAH)
- akta.pro secondary industries
- Institutional Qualified Custody (Banks/Trust Companies) (FSADACAA), Custody Technology Platforms (Custody-as-a-Service) (FSADACAB), Collateral Management & Margining (FSADAJAF)
Keywords
Where Coinbase Custody is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Markets served
Coinbase Custody business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Technology or R&D, Infrastructure, Personnel, Operations, Marketing or Sales, Others
Revenue model
- Custody Fees on ETF Assets: Coinbase Custody charges fees on assets under custody for ETF issuers. As primary custodian for 9 of 11 US spot Bitcoin ETFs, revenue is derived from basis points on AUM across the ETF complex.
- Institutional Digital Asset Custody Services: Direct custody services for institutional clients including asset managers, family offices, hedge funds, and corporate treasuries managing digital asset positions.
- Altcoin ETF Custody: Custody services for emerging altcoin ETFs including Hyperliquid (HYPE), XRP, Solana, and Cardano, positioning Coinbase as the dominant custodian across the expanding altcoin ETF market.
- Collateral Management Services: Provides custody infrastructure that enables Bitcoin holdings to serve as collateral for credit facilities, supporting lending and treasury management use cases.
Go-to-market motion3 records
Distribution channels4 records
Marketing channels4 records
Coinbase Custody product offering
Product offeringCore offering
Coinbase Custody provides institutional-grade offline cold storage custody for digital assets, serving as a qualified custodian for SEC-approved spot cryptocurrency ETFs and institutional clients. It acts as the primary custodian for 9 of 11 US spot Bitcoin ETFs and extends to Ethereum, Solana, XRP, HBAR, HYPE, and BNB ETF products. The service is offered to asset managers, ETF issuers, corporate treasuries, mining firms, and traditional banks, with integrated staking and Bitcoin-collateralized credit capabilities.
Differentiator
Problem solved
Functional benefit
Products and services
- Institutional Cold Storage Custody Institutional-grade offline cold storage custody service for digital assets, providing secure offline storage and multi-layered security architecture for institutional clients. Reduces cyber exposure for asset managers, ETF issuers, hedge funds, family offices, corporate treasuries, and banks.
- Spot Cryptocurrency ETF Custody
Quantifiable outcome
- Serves 9 of 11 SEC-approved Bitcoin spot ETFs, representing dominant market position
- +2 more outcomes
Companies that use Coinbase Custody
Customer profileNamed customers15 records
Segments4 records
Ideal customer profiles5 records
Coinbase Custody technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Coinbase Custody partnerships and signals
Strategic signalPartnerships
15 partnerships are on record, tiered core.
- FigmentcoreFigment provides staking services for Morgan Stanley's Ether and Solana ETFs, alongside Galaxy Blockchain Infrastructure and Coinbase Canada, enabling regulated staking within ETF structures.
- Galaxy Blockchain InfrastructurecoreGalaxy Blockchain Infrastructure provides staking services for Morgan Stanley's Ether and Solana ETFs, complementing Coinbase Canada's services for each product.
- Coinbase CanadacoreCoinbase Canada provides staking services for Morgan Stanley's Ether and Solana ETF products, enabling in-product staking capabilities.
- Bitwise Asset ManagementcoreBitwise named Coinbase Custody as the fund's custodian for its spot Hyperliquid ETF (BHYP), structured as a Delaware statutory trust holding HYPE tokens directly and trading on NYSE Arca.
- CaixaBankcoreCaixaBank secured MiCA authorization as Crypto-Asset Service Provider, expanding digital asset services via Coinbase Custody as transaction partner alongside Swissquote Bank.
- Grayscale InvestmentscoreGrayscale filed S-1 application for HYPE ETF (GHYP) tracking Hyperliquid's HYPE token, listing on Nasdaq with Coinbase Custody as the custodian, marking continued expansion into single-asset crypto ETFs.
- Morgan StanleycoreMorgan Stanley named Coinbase Custody and BNY Mellon as custodians for its Morgan Stanley Bitcoin Trust (MSBT) spot Bitcoin ETF, the first major US bank to directly issue a spot Bitcoin ETF. Coinbase handles digital asset safekeeping while BNY serves as administrator, transfer agent, and cash custodian.
- BNY MelloncoreBNY Mellon serves alongside Coinbase Custody in dual-custodian arrangements for Morgan Stanley's Bitcoin ETF and other products, handling administrator, transfer agent, and cash custodian functions.
- Hut 8 Mining Corp.coreHut 8 increased credit facility with Coinbase Credit to $200 million, with obligations secured by Bitcoin holdings held in custody with Coinbase Custody Trust Company.
- Franklin TempletoncoreFranklin Templeton plans to launch its spot XRP ETF (EZRP) with Coinbase Custody Trust Company serving as custodian for the fund's XRP holdings, trading on Cboe BZX Exchange.
- BitGocoreBitGo partners with Coinbase Custody for dual custody of certain ETF products including HBAR ETF, providing diversified custody options.
- VanEckcoreVanEck's spot Solana ETF plans to use Coinbase Custodian for safekeeping of SOL holdings, along with Gemini Trust, as part of regulated staking mechanism.
- BlackRockcoreBlackRock's iShares Bitcoin Trust ETF (IBIT) uses Coinbase Custody as its third-party custodian, making Coinbase the custodian for the largest spot Bitcoin ETF by trading volume with over $40B AUM.
- Canary CapitalcoreCanary Capital's HBAR ETF uses Coinbase Custody and BitGo for custody of Hedera's HBAR token, with the ETF collecting over $70M in AUM within its first six days of trading.
- BlackRockcoreBlackRock's Bitcoin Premium Income ETF (BITA) holds bitcoin in cold storage through Coinbase Custody, competing with Goldman Sachs bitcoin fund targeting July 2026 launch.
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
Coinbase Custody competitors and assessment
Company assessmentDirect peers
- BitGo: Leading institutional crypto custody provider; directly competes with Coinbase Custody across ETF, corporate treasury, and prime brokerage use cases, and is often named as dual custodian in Coinbase-custodied products.
- Fireblocks: Institutional digital asset custody and settlement infrastructure provider; competes for enterprise treasury and trading-firm custody mandates with technology-forward positioning.
- Anchorage Digital: Federally chartered digital asset bank providing institutional custody with staking and trading services; competes for institutional mandates from asset managers and crypto-native firms.
- Gemini Trust Company: New York-chartered trust company providing institutional crypto custody and exchange services; named alongside Coinbase Custody in some ETF custody structures and competes in the same regulated institutional segment.
- Komainu: Institutional digital asset custody joint venture backed by Nomura, Ledger, and CoinShares; competes for regulated institutional mandates with bank-grade governance.
- Fidelity Digital Assets: Fidelity's institutional crypto custody arm; keeps FBTC custody in-house rather than using Coinbase, representing a competing at-scale custody solution from a major traditional asset manager.
Regional players
- Hex Trust: Asia-based institutional digital asset custodian; competes for global mandates from Asian and European institutional clients with similar regulated custody and staking offerings.
Emerging players
- Bakkt Holdings: Institutional digital asset platform providing custody, trading, and yield services; focuses on broker-dealer and enterprise treasury use cases with overlap in the institutional custody market.
Broad incumbents
- State Street: Global custodian exploring digital asset custody services; traditional finance incumbent with deep institutional relationships that could compete for crypto custody mandates as the market matures.
- BNY Mellon: Global custodian serving as dual custodian alongside Coinbase in major ETF products; traditional finance incumbent expanding into digital asset custody with massive balance sheet and institutional relationships.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Coinbase Custody social profiles
Digital presenceCoinbase Custody financial estimates
Financial estimateRevenue estimate
Valuation estimate
Coinbase Custody leadership team
Management profileNumber of profiles
Profiles1 record
Coinbase Custody funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Coinbase Custody M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Coinbase Custody
What does Coinbase Custody do?
Coinbase Custody provides institutional-grade offline cold storage custody for digital assets, serving as a qualified custodian for SEC-approved spot cryptocurrency ETFs and institutional clients. It acts as the primary custodian for 9 of 11 US spot Bitcoin ETFs and extends to Ethereum, Solana, XRP, HBAR, HYPE, and BNB ETF products. The service is offered to asset managers, ETF issuers, corporate treasuries, mining firms, and traditional banks, with integrated staking and Bitcoin-collateralized credit capabilities.
Is Coinbase Custody a public or private company?
Coinbase Custody is a private company. It is classified as corporate owned and is currently operating.
When was Coinbase Custody founded?
Coinbase Custody was founded in 2018.
Where is Coinbase Custody based?
Coinbase Custody is headquartered in San Francisco, United States, in the North America region.
How does Coinbase Custody make money?
Four revenue lines are on record. Custody Fees on ETF Assets are the primary driver. The others are institutional Digital Asset Custody Services, altcoin ETF Custody and collateral Management Services.
Who are Coinbase Custody's main competitors?
Direct peers on record are BitGo, Fireblocks, Anchorage Digital, Gemini Trust Company, Komainu and Fidelity Digital Assets. Hex Trust is listed as a regional player. Bakkt Holdings is listed as an emerging player. Broad incumbents are State Street and BNY Mellon.
Does Coinbase Custody have an API?
No public API is recorded for Coinbase Custody.
What industry is Coinbase Custody in?
Coinbase Custody's product category is Institutional Digital Asset Custody. Its primary akta.pro industry code is FSAFAHAH, Digital Asset Custody (Institutional Crypto Custody), with a secondary code of FSADACAA, Institutional Qualified Custody (Banks/Trust Companies). Its SIC code is 6199.