OKX Reveals Massive Bitcoin and Ethereum Reserve Holdings Worth Nearly $12 Billion

OKX is sitting on roughly $11.6 billion in combined Bitcoin and Ethereum reserves, according to the exchange's 40th consecutive Proof of Reserves report. The snapshot, dated February 4, 2026, covers 22 major cryptocurrencies and shows every single one backed above 100%. For an industry still haunted by the FTX collapse, that kind of consistency matters.

What Do the Numbers Actually Show?

The headline figures are hard to ignore. OKX holds 130,618 BTC in user reserves, valued at approximately $8.6 billion at the time of the snapshot. That is a 3.04% increase, or 3,848 BTC more than the previous report from January 17, 2026. The Bitcoin reserve ratio sits at 106%, meaning OKX wallet assets total 137,823 BTC, split between 127,820 BTC on exchange and 10,003 BTC in third-party custody.

Ethereum tells a slightly different story. User holdings stand at 1,582,474 ETH, worth around $3 billion. That is a minor 0.11% dip from mid-January, a decrease of 1,673 ETH. The reserve ratio comes in at 103%, backed by 1,627,430 ETH across exchange and third-party wallets.

The broader picture includes total user asset reserves of roughly $26.7 billion across primary cryptocurrencies, with OKX's full reserves reaching $31.29 billion when all assets are factored in.

Where Do Stablecoins and Other Tokens Stand?

USDT remains the largest holding by raw numbers: 10,367,437,093 USDT in user reserves, down a modest 0.17% from the previous snapshot. That is roughly $10.37 billion with a reserve ratio of 109%. USDC also checks in at 101%.

OKB, the exchange's native token, sits at 19,873,110 units with a 101% reserve ratio, down 0.15% from January. Other tracked tokens, including XRP at 111%, DOGE at 101%, and SOL at 100%, all remain above the critical 100% threshold.

The data pattern shows BTC as the only major asset with meaningful inflows. ETH, USDT, and OKB all posted slight decreases, suggesting some portfolio rotation rather than dramatic shifts in either direction.

Why Does 40 Consecutive Reports Matter?

Proof of Reserves was barely a talking point before FTX imploded in November 2022. Now it separates serious exchanges from those hoping you will not ask questions. OKX has published these reports without interruption for over three years, using Merkle tree verification that lets users independently confirm their assets are backed.

That track record puts OKX in a small group of exchanges that have made transparency a routine rather than a marketing stunt. Many competitors still do not publish PoR reports at all, and among those that do, consistency varies widely.

For context, OKX's total reserves of $31.29 billion still trail Binance's $155.64 billion by a wide margin. But size is not the only metric that matters. Sustained transparency builds a different kind of trust, the kind that institutional investors increasingly demand before parking serious capital on a platform.

What Does This Mean for the Broader Market?

The timing of this report lands during a stretch of market uncertainty. Minor outflows in ETH and stablecoins suggest some portfolio rotation rather than panic selling, while the slight BTC increase reflects normal movement between snapshot periods.

The bigger takeaway is structural. Every time a major exchange publishes a clean PoR report, it raises the bar for the rest of the industry. Regulators notice. Institutions notice. And users who lost money in 2022 because an exchange was lying about its reserves definitely notice.

The data lives on-chain for anyone to check. OKX just makes it easier to read.

Sources:

• Wu Blockchain on X — Original post sharing OKX's Proof of Reserves data
• OKX Proof of Reserves — Official OKX PoR page with Merkle tree verification and full asset breakdown
• Ainvest — Market analysis and comparison of exchange reserve holdings