Coinbase is the largest bitcoin holder among exchanges, followed by Huobi and Binance

Bitcoin • June 1, 2020, 8:51AM EDT
UPDATED: May 28, 2021, 12:31PM EDT
The Block

Cryptocurrency exchanges hold around 3.08 million bitcoins on their customers’ behalf, nearly 16.5% of the total supply of 21 million, according to research conducted by The Block’s Larry Cermak.

While the absolute amount looks large, the percentage figure is down by 10% since February 9 when exchanges held around 3.43 million bitcoins, representing nearly 19% of the total supply.

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Notably, Coinbase is the largest bitcoin holder, having around 984,300 BTC in its wallets. Coinbase is followed by Huobi (413,000 BTC), Binance (318,000 BTC), OKEx (268,000 BTC), and BitMEX (217,000 BTC).

Source: The Block, bitUniverse, chain.info, Glassnode Peckshield, BitFury, BitcoinWhosWho

The Block analyzed data from different sources, including bitUniverse, chain.info Glassnode, Peckshield, BitFury and BitcoinWhosWho, to find the most accurate amount of bitcoins held by crypto exchanges.

To read the full analysis and more such data-driven stories, subscribe to The Block Research.

About Author

Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.