COINBASE GLOBAL INC COIN
COM CL A · Common Stock · CUSIP 19260Q107 · ISIN US19260Q1076
American company that operates a cryptocurrency exchange platform
- SectorFinancials
- IndustryFinance Services
- HeadquartersNew York, NY
- Founded2012
- Websitecoinbase.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($765.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $350.45. Options: 83 managers hold calls ($18.8bn notional), 80 hold puts ($17.3bn).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 619 |
| Q4 2022 | 569 |
| Q1 2023 | 617 |
| Q2 2023 | 623 |
| Q3 2023 | 612 |
| Q4 2023 | 828 |
| Q1 2024 | 925 |
| Q2 2024 | 917 |
| Q3 2024 | 876 |
| Q4 2024 | 1,031 |
| Q1 2025 | 1,001 |
| Q2 2025 | 1,260 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 249 | 263 |
| Q4 2023 | 421 | 256 |
| Q1 2024 | 473 | 400 |
| Q2 2024 | 481 | 375 |
| Q3 2024 | 424 | 404 |
| Q4 2024 | 555 | 347 |
| Q1 2025 | 573 | 416 |
| Q2 2025 | 805 | 403 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $5.3bn | $4.8bn | 0.90 |
| Q4 2024 | $11.4bn | $9.2bn | 0.81 |
| Q1 2025 | $7.1bn | $6.2bn | 0.88 |
| Q2 2025 | $18.8bn | $17.3bn | 0.92 |
Biggest buyers
| VANGUARD GROUP INC | Added | +4.9m |
| STATE STREET CORP | Added | +4.3m |
| BlackRock, Inc. | Added | +2.7m |
| CLEAR STREET LLC | Added | +2.3m |
| FMR LLC | Added | +1.8m |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +1.8m |
| GROUPAMA ASSET MANAGMENT | Added | +1.8m |
| JPMORGAN CHASE & CO | Added | +1.0m |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | +1.0m |
| Invesco Ltd. | Added | +858.7k |
Biggest sellers
| Clear Street Derivatives LLC | Sold out | -2.3m |
| Amundi | Reduced | -1.2m |
| NATIONAL BANK OF CANADA /FI/ | Reduced | -1.2m |
| Hudson Bay Capital Management LP | Reduced | -1.1m |
| HSBC HOLDINGS PLC | Reduced | -1.0m |
| Qube Research & Technologies Ltd | Sold out | -718.5k |
| JANE STREET GROUP, LLC | Reduced | -637.2k |
| MARSHALL WACE, LLP | Reduced | -536.8k |
| NOMURA HOLDINGS INC | Reduced | -494.8k |
| SIG BROKERAGE, LP | Sold out | -477.4k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $3.5bn10.1m shares |
| CITADEL ADVISORS LLC | Added | $2.6bn7.5m shares |
| JANE STREET GROUP, LLC | Added | $2.1bn6.0m shares |
| PEAK6 LLC | Added | $1.7bn4.9m shares |
| IMC-Chicago, LLC | Added | $1.6bn4.5m shares |
| CTC LLC | Reduced | $1.1bn3.2m shares |
| WOLVERINE TRADING, LLC | Added | $887.3m2.5m shares |
| NATIONAL BANK OF CANADA /FI/ | New | $740.7m21.1k shares |
| Walleye Trading LLC | Added | $544.9m1.6m shares |
| SIMPLEX TRADING, LLC | Added | $497.1m1.4m shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $3.7bn10.5m shares |
| JANE STREET GROUP, LLC | Added | $2.0bn5.7m shares |
| CITADEL ADVISORS LLC | Reduced | $1.8bn5.2m shares |
| IMC-Chicago, LLC | New | $1.3bn3.6m shares |
| PEAK6 LLC | Added | $1.1bn3.1m shares |
| NATIONAL BANK OF CANADA /FI/ | New | $1.0bn28.9k shares |
| CTC LLC | Reduced | $1.0bn2.9m shares |
| WOLVERINE TRADING, LLC | Added | $478.9m1.4m shares |
| SIMPLEX TRADING, LLC | New | $441.6m1.3m shares |
| Parallax Volatility Advisers, L.P. | Reduced | $338.5m965.8k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Armstrong Brian 13G · exempt (held before listing) filed 2025-02-14 | 13.9% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.3% |
| BlackRock, Inc. 13G · institution filed 2025-07-16 | 6.9% |
Fell to 5% or below in the last year: SUSQUEHANNA SECURITIES, LLC (4.2%, 2026-05-15), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2023 | 0 | — | 5 | $24.2m | $24.0m |
| Q4 2023 | 0 | — | 9 | $164.7m | $164.7m |
| Q1 2024 | 0 | — | 10 | $433.3m | $433.3m |
| Q2 2024 | 0 | — | 9 | $136.1m | $126.3m |
| Q3 2024 | 0 | — | 7 | $56.9m | $47.3m |
| Q4 2024 | 0 | — | 9 | $635.6m | $620.1m |
| Q1 2025 | 0 | — | 6 | $86.5m | $86.5m |
| Q2 2025 | 0 | — | 6 | $232.2m | $232.2m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-06-26 | Armstrong Brian +1 Chairman and CEO, director · By The Brian Armstrong Living Trust | Sold plan | $41.3m113.7k shares |
| 2025-06-25 | Armstrong Brian +1 Chairman and CEO, director · By The Brian Armstrong Living Trust | Sold plan | $121.9m336.3k shares |
| 2025-06-25 | HAAS ALESIA J Chief Financial Officer | Sold plan | $1.1m3.0k shares |
| 2025-06-18 | Grewal Paul Chief Legal Officer | Sold plan | $546.6k2.0k shares |
| 2025-06-16 | HAAS ALESIA J Chief Financial Officer | Sold plan | $1.5m6.1k shares |
| 2025-06-16 | HAAS ALESIA J Chief Financial Officer | Sold plan | $430.9k1.7k shares |
| 2025-06-11 | Armstrong Brian +1 Chairman and CEO, director · By The Brian Armstrong Living Trust | Sold plan | $6.4m25.0k shares |
| 2025-06-02 | Armstrong Brian +1 Chairman and CEO, director · By The Brian Armstrong Living Trust | Sold plan | $6.2m25.0k shares |
| 2025-06-02 | Grewal Paul Chief Legal Officer | Sold plan | $2.5m10.0k shares |
| 2025-05-27 | Grewal Paul Chief Legal Officer | Sold plan | $3.5m12.9k shares |
| 2025-05-22 | Ehrsam Frederick Ernest III Director · By The Frederick Ernest Ehrsam III Living Trust | Sold plan | $2.3m8.4k shares |
| 2025-05-22 | Brock Lawrence J Chief People Officer | Sold plan | $1.6m5.9k shares |
| 2025-05-22 | Jones Jennifer N. Chief Accounting Officer | Sold plan | $457.8k1.7k shares |
| 2025-05-21 | Ehrsam Frederick Ernest III Director · By The Frederick Ernest Ehrsam III Living Trust | Sold plan | $1.3m4.7k shares |
| 2025-05-20 | Jones Jennifer N. Chief Accounting Officer | Sold plan | $229.9k869 shares |
| 2025-05-16 | Ehrsam Frederick Ernest III Director · By The Frederick Ernest Ehrsam III Living Trust | Sold plan | $2.6m9.8k shares |
| 2025-05-15 | HAAS ALESIA J Chief Financial Officer | Sold plan | $1.5m5.8k shares |
| 2025-05-15 | HAAS ALESIA J Chief Financial Officer | Sold plan | $445.6k1.7k shares |
| 2025-05-15 | HAAS ALESIA J Chief Financial Officer | Sold plan | $5.0k20 shares |
| 2025-05-14 | Armstrong Brian +1 Chairman and CEO, director · By The Brian Armstrong Living Trust | Sold plan | $6.4m25.0k shares |
| 2025-05-14 | Ehrsam Frederick Ernest III Director · By The Frederick Ernest Ehrsam III Living Trust | Sold plan | $4.0m15.5k shares |
| 2025-05-13 | Ehrsam Frederick Ernest III Director · By The Frederick Ernest Ehrsam III Living Trust | Sold plan | $7.6m30.2k shares |
| 2025-05-13 | Grewal Paul Chief Legal Officer | Sold plan | $488.0k2.0k shares |
| 2025-05-05 | Armstrong Brian +1 CHAIRMAN AND CEO, director · By The Brian Armstrong Living Trust | Sold plan | $5.0m25.0k shares |
| 2025-04-23 | Armstrong Brian +1 Chairman and CEO, director · By The Brian Armstrong Living Trust | Sold plan | $4.0m20.0k shares |
| 2025-04-23 | Grewal Paul Chief Legal Officer | Sold plan | $2.0m10.0k shares |
| 2025-04-23 | HAAS ALESIA J Chief Financial Officer | Sold plan | $1.5m7.6k shares |
| 2025-04-23 | HAAS ALESIA J Chief Financial Officer | Sold plan | $348.2k1.7k shares |
| 2025-04-14 | Armstrong Brian +1 Chairman and CEO, director · By The Brian Armstrong Living Trust | Sold plan | $2.7m15.0k shares |
| 2025-04-03 | Armstrong Brian +1 Chairman and CEO, director · By The Brian Armstrong Living Trust | Sold plan | $2.5m15.0k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.14% of their portfolio | 24.2m $8.5bn | Added +4.9m |
| BlackRock, Inc. 0.10% of their portfolio | 15.1m $5.3bn | Added +2.7m |
| STATE STREET CORP 0.11% of their portfolio | 8.7m $3.1bn | Added +4.3m |
| GEODE CAPITAL MANAGEMENT, LLC 0.14% of their portfolio | 5.6m $1.9bn | Added +1.8m |
| GROUPAMA ASSET MANAGMENT 0.09% of their portfolio | 4.8m $5.6m | Added +1.8m |
| FMR LLC 0.08% of their portfolio | 4.2m $1.5bn | Added +1.8m |
| Paradigm Operations LP 82.40% of their portfolio | 4.1m $1.4bn | Unchanged |
| MORGAN STANLEY 0.09% of their portfolio | 3.9m $1.4bn | Added +60.3k |
| NORGES BANK 0.13% of their portfolio | 3.0m $1.0bn | Added +698.1k |
| Sumitomo Mitsui Trust Group, Inc. 0.58% of their portfolio | 2.6m $925.4m | Reduced -156.8k |
| CLEAR STREET LLC 5.43% of their portfolio | 2.6m $921.0m | Added +2.3m |
| ARK Investment Management LLC 6.74% of their portfolio | 2.6m $919.4m | Reduced -446.0k |
| Amova Asset Management Americas, Inc. 7.33% of their portfolio | 2.1m $734.7m | Reduced -256.8k |
| GOLDMAN SACHS GROUP INC 0.11% of their portfolio | 2.0m $685.0m | Added +849.2k |
| JPMORGAN CHASE & CO 0.05% of their portfolio | 1.9m $661.5m | Added +1.0m |
| NORTHERN TRUST CORP 0.09% of their portfolio | 1.9m $648.8m | Added +548.7k |
| a16z Perennial Management, L.P. 44.35% of their portfolio | 1.5m $536.4m | Reduced -69.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.09% of their portfolio | 1.5m $510.3m | Added +504.1k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.69% of their portfolio | 1.3m $454.1m | Added +1.0m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.09% of their portfolio | 1.3m $441.6m | Added +194.1k |
| BANK OF AMERICA CORP /DE/ 0.03% of their portfolio | 1.2m $433.6m | Added +233.1k |
| Invesco Ltd. 0.07% of their portfolio | 1.2m $432.5m | Added +858.7k |
| CITIGROUP INC 0.28% of their portfolio | 1.2m $404.1m | Added +691.5k |
| Legal & General Group Plc 0.10% of their portfolio | 1.1m $398.4m | Added +145.0k |
| Bank of New York Mellon Corp 0.07% of their portfolio | 995.1k $348.8m | Added +331.6k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.04% of their portfolio | 905.3k $317.3m | Added +103.1k |
| JANE STREET GROUP, LLC 0.50% of their portfolio | 888.5k $311.4m | Reduced -637.2k |
| RENAISSANCE TECHNOLOGIES LLC 0.41% of their portfolio | 877.3k $307.5m | Reduced -101.0k |
| UBS Group AG 0.06% of their portfolio | 801.2k $280.8m | Added +343.9k |
| ROYAL BANK OF CANADA 0.03% of their portfolio | 791.1k $277.3m | Added +573.4k |
| DIMENSIONAL FUND ADVISORS LP 0.06% of their portfolio | 774.6k $271.5m | Added +184.5k |
| Evergreen Quality Fund GP, Ltd. 8.03% of their portfolio | 741.4k $259.9m | New |
| Ribbit Management Company, LLC 17.60% of their portfolio | 737.6k $258.5m | Unchanged |
| NATIONAL BANK OF CANADA /FI/ 0.27% of their portfolio | 724.7k $254.0m | Reduced -1.2m |
| NATIXIS 1.24% of their portfolio | 713.9k $250.2m | Reduced -185.9k |
| DEUTSCHE BANK AG\ 0.08% of their portfolio | 631.3k $221.3m | Reduced -146.6k |
| BARCLAYS PLC 0.09% of their portfolio | 614.9k $215.5m | Added +114.8k |
| Weiss Asset Management LP 3.40% of their portfolio | 612.7k $214.8m | Added +469.7k |
| BANK OF MONTREAL /CAN/ 0.11% of their portfolio | 609.3k $213.5m | Added +95.5k |
| Squarepoint Ops LLC 0.45% of their portfolio | 584.3k $204.8m | Added +550.2k |
| Nuveen, LLC 0.05% of their portfolio | 549.9k $192.7m | Added +65.3k |
| TORONTO DOMINION BANK 0.38% of their portfolio | 501.0k $175.6m | Added +18.8k |
| RAYMOND JAMES FINANCIAL INC 0.06% of their portfolio | 496.2k $173.9m | Added +75.8k |
| National Pension Service 0.14% of their portfolio | 447.0k $156.7m | Added +164.8k |
| 1832 Asset Management L.P. 0.26% of their portfolio | 430.9k $151.0m | New |
| Rockefeller Capital Management L.P. 0.18% of their portfolio | 430.3k $150.8m | Added +239.1k |
| BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 1.35% of their portfolio | 425.0k $149.4m | Reduced -67.0k |
| Slate Path Capital LP 2.54% of their portfolio | 420.8k $147.5m | New |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.11% of their portfolio | 403.4k $141.4m | Added +236.5k |
| HSBC HOLDINGS PLC 0.09% of their portfolio | 383.9k $134.6m | Reduced -1.0m |
| BNP PARIBAS FINANCIAL MARKETS 0.10% of their portfolio | 382.9k $134.2m | Reduced -72.7k |
| RHUMBLINE ADVISERS 0.11% of their portfolio | 374.1k $131.1m | Added +115.1k |
| WELLS FARGO & COMPANY/MN 0.03% of their portfolio | 358.7k $125.7m | Added +267.9k |
| Amundi 0.04% of their portfolio | 358.5k $127.1m | Reduced -1.2m |
| CANADA PENSION PLAN INVESTMENT BOARD 0.11% of their portfolio | 355.0k $124.4m | Added +119.8k |
| Tidal Investments LLC 0.80% of their portfolio | 348.9k $122.3m | Added +85.1k |
| CITADEL ADVISORS LLC 0.10% of their portfolio | 344.2k $120.7m | Reduced -3.5k |
| California Public Employees Retirement System 0.07% of their portfolio | 332.8k $116.6m | Added +98.8k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.12% of their portfolio | 317.6k $111.3m | Added +11.1k |
| MACQUARIE GROUP LTD 0.14% of their portfolio | 315.7k $110.7m | Added +3.5k |
| Compound Planning, Inc. 4.15% of their portfolio | 313.3k $109.8m | Reduced -20.4k |
| NOMURA HOLDINGS INC 0.88% of their portfolio | 312.9k $109.7m | Reduced -494.8k |
| CULLINAN ASSOCIATES INC 7.00% of their portfolio | 302.7k $106.1m | Unchanged |
| IMC-Chicago, LLC 2.58% of their portfolio | 293.8k $103.0m | New |
| Anatole Investment Management Ltd 16.99% of their portfolio | 281.6k $98.7m | New |
| AMERIPRISE FINANCIAL INC 0.02% of their portfolio | 278.9k $97.8m | Added +29.4k |
| PRINCIPAL FINANCIAL GROUP INC 0.05% of their portfolio | 278.0k $97.4m | Added +265.0k |
| IEQ CAPITAL, LLC 0.60% of their portfolio | 277.6k $97.3m | Added +36.0k |
| DGS Capital Management, LLC 18.93% of their portfolio | 261.6k $91.7m | Reduced -66.3k |
| Robeco Institutional Asset Management B.V. 0.15% of their portfolio | 257.2k $90.2m | Added +117.4k |
| Holocene Advisors, LP 0.22% of their portfolio | 252.3k $88.4m | New |
| FEDERATED HERMES, INC. 0.16% of their portfolio | 248.2k $87.0m | Added +55.0k |
| LPL Financial LLC 0.03% of their portfolio | 245.5k $86.0m | Added +38.8k |
| Korea Investment CORP 0.19% of their portfolio | 243.7k $85.4m | Added +127.2k |
| Contrarius Group Holdings Ltd 4.80% of their portfolio | 242.7k $85.1m | Added +13.1k |
| Azora Capital LP 3.84% of their portfolio | 242.4k $85.0m | Added +105.7k |
| ALLIANCEBERNSTEIN L.P. 0.03% of their portfolio | 241.9k $84.8m | Added +135.0k |
| VOYA INVESTMENT MANAGEMENT LLC 0.08% of their portfolio | 237.0k $83.1m | Reduced -137.2k |
| Parcion Private Wealth LLC 5.86% of their portfolio | 234.2k $82.1m | Added +128 |
| Allen Investment Management, LLC 0.89% of their portfolio | 232.4k $81.5m | Unchanged |
| Kemnay Advisory Services Inc. 12.95% of their portfolio | 232.3k $81.4m | Unchanged |
| VAN ECK ASSOCIATES CORP 0.09% of their portfolio | 221.0k $77.5m | Added +40.8k |
| Harvest Portfolios Group Inc. 1.77% of their portfolio | 217.2k $76.1m | Added +106.6k |
| Patient Capital Management, LLC 3.22% of their portfolio | 203.5k $71.3m | Reduced -172 |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.12% of their portfolio | 200.3k $70.2m | Added +3.2k |
| Allspring Global Investments Holdings, LLC 0.11% of their portfolio | 198.5k $66.6m | Added +191.3k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.25% of their portfolio | 196.1k $68.7m | New |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.11% of their portfolio | 193.6k $67.9m | New |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.13% of their portfolio | 190.9k $66.9m | Reduced -7.3k |
| Perpetual Ltd 0.73% of their portfolio | 177.8k $62.3m | New |
| IDG Technology Venture Investment IV, LLC 100.00% of their portfolio | 172.9k $60.6m | Reduced -160.0k |
| Hudson Bay Capital Management LP 0.39% of their portfolio | 170.8k $59.9m | Reduced -1.1m |
| OSAIC HOLDINGS, INC. 0.10% of their portfolio | 168.3k $58.9m | Reduced -7.2k |
| Connor, Clark & Lunn Investment Management Ltd. 0.19% of their portfolio | 157.0k $55.0m | Added +310 |
| Oriental Harbor Investment Master Fund 4.88% of their portfolio | 156.9k $55.0m | New |
| Paragon Capital Management Ltd 9.91% of their portfolio | 156.0k $54.7m | Reduced -17.1k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.11% of their portfolio | 152.5k $53.4m | New |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.09% of their portfolio | 152.1k $53.3m | Added +37.6k |
| Quadrature Capital Ltd 0.91% of their portfolio | 151.0k $52.9m | Reduced -200.7k |
| AVIVA PLC 0.11% of their portfolio | 147.6k $51.7m | Added +38.7k |