Speaking on the Q3 earnings call, CEO Brian Armstrong said the exchange had just bought its 18,000th bitcoin for the corporate balance sheet, separate from customer assets. The date and price of the purchase were not disclosed.

The 10-Q filed on Oct. 29 shows 17,954 BTC held for investment at the end of September, up 643 BTC in the quarter. Fair value stood at $1.50B against a cost basis of $1.26B.

Coinbase held 6,885 BTC at the end of 2024, so the stack has grown by about 161% since then.

The pace has slowed: 1,103 BTC were added in Q1 2026, 819 in Q2 and 643 in Q3, versus roughly 2,400 to 2,800 BTC per quarter in 2025. Coinbase also holds 152,649 ETH, and its full crypto investment portfolio was valued at $2.22B.