Data shows crypto exchange Coinbase has made a surprising shift in its XRP holdings by reducing its stash from more than 780 million XRP to around 200 million in a matter of weeks. According to data from XRPScan, Coinbase’s total XRP holdings have fallen by a massive 69% from its most recent proof of reserve report. Notably, this cutback comes at a time when institutional players like BlackRock are increasingly intertwined with Coinbase’s operations

Coinbase Slashes XRP Holdings

Once the fifth-largest exchange holder of XRP, Coinbase has now slipped to tenth place after reducing its balance from approximately 780.13 million XRP to 199.47 million. This represents a staggering 69% reduction since the second quarter of 2025, with a 57% plunge in just the past month. Such a huge cutback in Coinbase’s XRP holdings within a short period of time can only be attributed to outflows from institutional investors. 

At the time of writing, Coinbase has 11 cold wallets remaining, each holding 16.5 million XRP tokens. This is a massive fall from early June numbers of 52 cold Coinbase wallets holding a total of 970 million XRP, according to XRPwallets, an XRP commentator account on the social media platform X. Interestingly, XRPwallets also hinted at the possibility of these huge movements being linked to BlackRock.

BlackRock is a suspect due to the nature of its recent collaboration with Coinbase. That collaboration, Go to Source to See Full Article
Author: Scott Matherson