The secret winner of the Bitcoin ETF is NOT who you think! 😱

Read on to find out👇

Coinbase is on track to become the custodian for 9 out of 12 Bitcoin ETFs in the United States.

First, let's explain what Coinbase Custody is:

Coinbase Custody provides a secure, high-grade offline storage solution that Coinbase's exchange services have relied on since 2012.

There's a minimum requirement of $10 million, along with a setup fee of $100k and a monthly fee of 0.1% 👀

💰 Now, considering the $10T of funds on the sidelines...

It is fairly conservative to assume that 5% of all bitcoins (980,000 BTC based on the current circulating supply) might eventually be held by Coinbase through these ETFs.

🔭 Let's do the math assuming a post-halving price of $100,000 per Bitcoin

First, 980,000 bitcoins * $100,000 = $98 billion,

Then, calculate the monthly fee: 0.1% of $98 billion = $98 million

Finally, compute the yearly profit: $98 million * 12 = $1.176 billion

So, @brian_armstrong’s company could make a mind-blowing $1 billion/year just from storing BTC! 🤯

🔹 It also means that Coinbase may be about to finally overtake Binance, which has already lost 1/3 of its market share in the last year following the $4B fine it received from the SEC 💀

"During the gold rush, sell shovels" ⛏

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