According to Forbes, research organization fiftyonexyz founder Marc Baumann cited relevant documents on X, stating that Coinbase Custody holds approximately 84% of the U.S. spot Bitcoin ETF assets, totaling about $77 billion, with funds highly concentrated in a single custodian. The report pointed out that as Bitcoin rebounded to around $77k and Coinbase received conditional approval from OCC for a national trust bank license, this custody concentration has sparked discussions in the market about potential systemic risks and regulatory concerns.

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