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Bitcoin Custodian Fees

by Larry Chiang on November 29, 2023

RoninBull

⁦‪@RoninBul‬⁩

Coinbase is the custodian for 9/12 BTC ETFs. Let’s say half of BTC ends up in ETFs. At 100k BTC will have a 2T market cap. That’s ~1T assets custodied by $COIN. They charge 10 basis points /month which is 1B of profit /month. That alone equals the same annual profit as $TSLA pic.twitter.com/MMK13Dswc1

11/28/23, 11:19 AM

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