Binance’s proof-of-reserves data showed a split in user balances during September 2026. Bitcoin holdings on the exchange rose by about $537 million, with customer BTC balances increasing 0.91% to roughly 688,600 BTC. Over the same period, Ethereum holdings dropped by about $499 million, and customer ETH balances fell 4.61%. USDT and BNB balances also moved lower, down 0.87% and 0.77%, respectively. Among major assets tracked in the report, Bitcoin was the only one to post growth in customer balances.
The exchange did not give a reason for the changes. Its report also did not indicate whether the same group of users sold ETH and bought BTC. On the reserve side, Binance said coverage for customer deposits across eight assets remained above 100%. The exchange held about 691,000 BTC against customer BTC balances of about 688,600 BTC, leaving a 0.35% surplus, or around 2,431 BTC. Ethereum reserves, by contrast, showed almost no surplus.
Binance’s proof-of-reserves data showed that customer Bitcoin holdings on the exchange increased by about $537 million in September 2026. BTC balances rose 0.91% to roughly 688,600 BTC.
During the same period, Ethereum holdings fell by about $499 million, with customer ETH balances down 4.61%. USDT holdings declined 0.87%, while BNB holdings slipped 0.77%. Bitcoin was the only major asset in the report to record growth in customer balances.
No reason was given for the shift
Binance did not explain the changes in its report. The disclosure also did not show whether the same group of customers sold ETH and bought BTC.
Reserve coverage stayed above 100%
On the reserve side, Binance said coverage ratios for customer deposits across eight assets were all above 100%. The exchange held about 691,000 BTC against customer BTC balances of about 688,600 BTC, a surplus of 0.35%, or around 2,431 BTC. Its Ethereum reserves showed almost no surplus.
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