Coinbase adds Ethereum Classic and seeks federal trust charter

Coinbase said it will list Ethereum Classic (ETC) on its platform within the next few months, sending the coin’s price up from $12.90 to $16.15 in under an hour [1]. The move adds a fifth cryptocurrency to Coinbase’s retail offering, which has previously been limited to Bitcoin, Ethereum, Litecoin and Bitcoin Cash.

The listing follows Coinbase’s broader push to broaden its asset lineup. Earlier this year the exchange announced plans to support ERC‑20 tokens and Bitcoin forks, promising advance notice before new assets go live [1]. By adding ETC—a fork that retained the original Ethereum blockchain after the 2016 DAO hack—the exchange gives the long‑standing smart‑contract platform heightened visibility and a new avenue for retail traders.

Federal charter for institutional custody

On April 2, 2026 the Office of the Comptroller of the Currency granted Coinbase National Trust Company (CNTC) a conditional, non‑insured national trust charter, a step that would shift its massive institutional custody business from a New York‑state charter to federal supervision [2]. Coinbase reported $376 billion in assets on its platform at the end of 2025, representing more than 12 % of global crypto market cap, and it already custodies the majority of U.S. spot Bitcoin and Ethereum ETFs [2]. The OCC charter confers qualified‑custodian status under SEC rules, a credential that many institutional clients require.

The federal charter is presented as a strategic upgrade, giving Coinbase uniform regulatory standards and the ability to deepen relationships with sophisticated investors, while retaining its existing New York licenses and BitLicense [2]. Critics from traditional banking groups have raised concerns about oversight, but the OCC defended its decision, noting its specialized supervisory unit for novel banks and the applicant’s profitability prospects [2].

Coinbase’s dual expansion—adding a new retail token and securing a federal trust charter—signals a concerted effort to grow both its consumer base and its institutional foothold. The real question is whether the added regulatory clarity will attract more institutional capital and how the ETC listing will affect the coin’s market dynamics amid growing competition among crypto custodians.