BlackRock leads institutional custody of Bitcoin
7:20 ▪ 4 min read
Informed ▪ Bitcoin (BTC)
The custody of cryptocurrencies is entering a new era. In fact, exchanges, which have long dominated, are giving ground to the giants of Wall Street. BlackRock, through its Bitcoin and Ethereum ETFs, is now establishing itself as an essential custodian, directly competing with Coinbase and Binance. This massive transfer of assets illustrates the rise of traditional finance in the crypto ecosystem and questions the future of historical platforms, facing a gradual loss of their central role.
In summary
BlackRock establishes itself as an essential player in crypto custody through its Bitcoin and Ethereum ETFs.
BlackRock's Bitcoin ETF (IBIT) now holds more BTC than Coinbase and Binance.
Coinbase's reserves are falling while Binance still retains the top spot in Ether.
Institutional investors now prefer regulated ETFs over centralized platforms.
BlackRock surpasses Coinbase and Binance in BTC
While the CEO of BlackRock speaks again about Bitcoin, data released by CryptoQuant has revealed an unprecedented shift this August 26: BlackRock's spot Bitcoin ETF, IBIT, now holds 745,357 BTC, surpassing the holdings of two of the largest crypto exchange platforms in the world.
In comparison, Coinbase shows 706,150 BTC, while Binance holds 584,557. This dynamic has been built in just a few months, marking a shift in the balance of power in asset custody.
