Coinbase Surges 1.05% on $2.67B Volume Ranking 23rd in U.S. Trading as XRP Holdings Plunge to 132M Amid BlackRock Partnership Expansion

On September 8, 2025, Coinbase Global (COIN) rose 1.05% with a trading volume of $2.67 billion, ranking 23rd among U.S. stocks. The exchange's XRP holdings have sharply declined, with only eight cold wallets remaining—each containing 16.5 million XRP—totaling 132 million tokens. This follows a broader reduction from 750 million XRP previously, as reported by blockchain analytics firm XRPwallets. The drawdown is linked to Coinbase's strategic partnership with BlackRock, which has expanded access to crypto products for institutional clients via Aladdin, now including XRP alongside Bitcoin.

Analysts suggest the partnership may explain the reduced XRP reserves, as Coinbase could be channeling assets toward BlackRock's clients. The collaboration, which began with Bitcoin in August, has likely expanded to other cryptocurrencies. This aligns with BlackRock's growing crypto presence, including its spot Bitcoin and Ethereum ETFs. The shift underscores Coinbase's role in facilitating institutional access to digital assets, potentially reshaping its liquidity and asset management strategies.

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