CoinDesk
Coinbase Institutional head of strategy John D'Agostino says the exchange has crossed a threshold Wall Street would recognise immediately: it is now, by any traditional definition, the only full-service prime broker in crypto.
The checklist mirrors equities — trading, custody, financing, derivatives, cross-margining — with one crypto-native addition: staking. The final pillar, cross-margining between spot and derivatives, went live in March, cutting institutional capital requirements by 10–20%.
The numbers behind the claim are substantial. Coinbase Prime holds over $350 billion in assets under custody, roughly 12% of total crypto market cap, and acts as custodian for more than 80% of U.S. bitcoin and ether ETF assets. Quarterly trading volume runs around $236 billion across 470-plus assets on 20 blockchains.
D'Agostino draws a direct parallel to Goldman Sachs and Morgan Stanley in…
Frequently asked questions
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What advantages does Coinbase Prime offer compared to traditional prime brokers?
Coinbase Prime provides a full suite of services including trading, custody, financing, derivatives, and staking, which are essential for institutional investors.
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How does Coinbase's cross-margining feature impact institutional trading?
The cross-margining feature, which went live in March, reduces institutional capital requirements by 10–20%, enhancing liquidity and trading efficiency.
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