Key Takeaways
- • Coinbase Institutional states it serves as custodian for 9 of 11 spot Bitcoin ETFs and 8 of 9 spot ETH ETFs, according to a January 22, 2025 company post authored by Greg Tusar and Brett Tejpaul.
- • Coinbase cites global crypto derivatives trading at 71% of total digital asset trading volume toward the end of 2024, with open interest across platforms surpassing $40B.
- • Coinbase International Exchange listed 91 new assets in 2024 and now supports over 90% of the perpetual futures market, with average daily volume up more than 6,200% over the year, per the company.
- • Coinbase is launching the COIN50 index, a benchmark of the top 50 digital assets by market capitalization, and plans cross-margining between Prime and derivatives products.
- • The company frames 2025 as a turning point for institutional crypto, pointing to the SEC's crypto task force and potential SAB 121 changes as regulatory tailwinds.
Summary
Coinbase Institutional published a January 22, 2025 post, authored by Greg Tusar and Brett Tejpaul, outlining its institutional strategy for 2025. The company describes crypto as a cornerstone of the global financial system, citing a market capitalization above $3 trillion and the approval and launch of spot Bitcoin and Ether ETFs in 2024 as evidence of growing institutional reliance on digital assets.
On custody and prime services, Coinbase says it serves as custodian for 9 of 11 spot Bitcoin ETFs and 8 of 9 ETH ETFs. The company highlights segregated client accounts and its status as a publicly listed, audited entity. Its Prime offering combines custody, trading and financing in a prime brokerage model, and Coinbase says it provides staking programs, financing, and deep liquidity access for hedge funds and asset managers, along with payment integration for corporates and API and white-label services for brokers, banks and fintechs.
The post also points to regulatory developments, including the recent launch of the SEC's dedicated crypto task force and potential changes to SAB 121 that could remove barriers for banks and large brokers entering crypto. Coinbase presents these as steps toward clearer frameworks that would support broader institutional participation.
On derivatives, Coinbase cites figures showing global crypto derivatives accounted for 71% of digital asset trading volume late in 2024, with open interest across platforms above $40 billion. It attributes strong growth to Coinbase International Exchange, which it says supports over 90% of the perpetual futures market, and to US-listed products including nano Bitcoin and ETH futures. The company plans to pursue first-in-market cross-margining between Prime and derivatives, and to become the first 24/7 futures trading venue in the US. It also reports growth in Asia-Pacific demand.
The COIN50 index, which Coinbase describes as a trusted benchmark for the top 50 digital assets, is presented as a foundation for future institutional products. The post is promotional in nature and its performance and market-share claims are company-reported rather than independently verified.
On custody and prime services, Coinbase says it serves as custodian for 9 of 11 spot Bitcoin ETFs and 8 of 9 ETH ETFs. The company highlights segregated client accounts and its status as a publicly listed, audited entity. Its Prime offering combines custody, trading and financing in a prime brokerage model, and Coinbase says it provides staking programs, financing, and deep liquidity access for hedge funds and asset managers, along with payment integration for corporates and API and white-label services for brokers, banks and fintechs.
The post also points to regulatory developments, including the recent launch of the SEC's dedicated crypto task force and potential changes to SAB 121 that could remove barriers for banks and large brokers entering crypto. Coinbase presents these as steps toward clearer frameworks that would support broader institutional participation.
On derivatives, Coinbase cites figures showing global crypto derivatives accounted for 71% of digital asset trading volume late in 2024, with open interest across platforms above $40 billion. It attributes strong growth to Coinbase International Exchange, which it says supports over 90% of the perpetual futures market, and to US-listed products including nano Bitcoin and ETH futures. The company plans to pursue first-in-market cross-margining between Prime and derivatives, and to become the first 24/7 futures trading venue in the US. It also reports growth in Asia-Pacific demand.
The COIN50 index, which Coinbase describes as a trusted benchmark for the top 50 digital assets, is presented as a foundation for future institutional products. The post is promotional in nature and its performance and market-share claims are company-reported rather than independently verified.
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