Coinbase Prime to End Custody for 49 Altcoins Amid Strategic Asset Review
Coinbase Prime to Remove 49 Altcoins from Custody by April’s End in Institutional Streamlining Effort
Coinbase Prime, the institutional-grade platform from U.S.-based crypto exchange Coinbase, has announced it will end custody support for 49 altcoins by the end of April 2025. The move reflects an internal realignment aimed at maintaining high compliance and operational standards for its institutional clients.
The update was shared in an official post on April 14 via X (formerly Twitter), noting that the platform regularly reviews its supported assets to ensure alignment with its evolving standards. As a result of this latest review, 49 tokens will no longer be eligible for custody support after this month.
Affected Assets Span Diverse Sectors
The tokens being phased out include a mix of lesser-known and niche assets such as BOSAGORA (BOA), pNetwork (PNT), Telcoin (TEL), Oraichain Token (ORAI), and 0chain (ZCN). Several tokens tied to specific blockchain utility or sector-focused applications—like real estate and decentralized identity—are also on the list. These include 1717 Bissonnet (1717), The Edison (EDSN), Draper Garland Apartments (GFDG), and Hello Albemarle (HLAB).
Interestingly, some of these tokens—such as PNT, ORAI, TEL, and IDEA—showed price increases in the 24 hours following the announcement, suggesting that market reaction remains mixed and token-specific.
What This Means for Institutional Investors
Coinbase Prime, designed for institutional investors, offers a range of services including secure digital asset custody, trading, and financing. The platform currently supports over 430 assets. The removal of 49 tokens, while notable, represents a relatively small portion of its overall portfolio.
Affected clients will need to transfer or liquidate their holdings in these tokens before the end of April. Coinbase has not disclosed specific criteria for the delisting but factors likely include low liquidity, limited market demand, and failure to meet internal compliance benchmarks.
A Sign of Strategic Repositioning
This latest move comes amid broader strategic shifts at Coinbase. The company recently added several new and trendy tokens—including Doginme (DOGINME) and Keyboard Cat (KEYCAT)—that saw price surges following their listings. However, the company’s financial performance has faced pressure. In Q1 2025, Coinbase’s stock dropped by 30%, marking its weakest quarter since the collapse of rival exchange FTX.
The delisting decision may reflect Coinbase’s intent to streamline its offerings and focus on more robust, liquid digital assets that align with the preferences and risk profiles of institutional clients.