Coinbase is benefiting from the ETF boom, with ETFs holding 90% of the total bitcoin value in the $37 billion market. The bank has begun preparing to enter the custodian field. Preventing market dominance by only one owner.

Coinbase, a major cryptocurrency exchange in the United States There is another business. Digital asset preservation service Operating under Coinbase Custody, it recently held approximately 90% of the market's $37 billion worth of bitcoin deposits from its custodial bitcoin ETFs.

Coinbase CEO Brian Armstrong said the traditional financial sector is increasingly embracing cryptocurrencies. It is worth noting that the Bitcoin ETF ranks as the second largest commodity ETF in the United States. It is second only to gold.

Coinbase Custody has emerged as the market leader in providing bitcoin custodial services to these ETFs. This not only reflects Coinbase's credibility, but also points to increased institutional trust. in digital currency as well.

However, the fact that Coinbase is the custodian of the majority of Bitcoin ETFs raises important questions about its monopoly on market power. and the need for a variety of asset management options. In response to this situation Players on the US Bank side Has begun to study digital asset storage services This could lead to more competition and tighter regulation in the sector.