SCHEDULE: Vanguard Group Updates Coinbase Ownership Reporting

The Vanguard Group reports 0% beneficial ownership in Coinbase Global Inc. following an internal realignment, shifting reporting to disaggregated subsidiaries.

Summary

• The Vanguard Group filed an Amendment No. 4 to Schedule 13G for Coinbase Global Inc. common stock.
• As of March 13, 2026, The Vanguard Group reports 0% beneficial ownership in Coinbase Global Inc.
• This change is a result of an internal realignment within The Vanguard Group, Inc. that occurred on January 12, 2026.
• Following the realignment, certain subsidiaries or business divisions of The Vanguard Group, Inc. will now report beneficial ownership separately (on a disaggregated basis) in reliance on SEC Release No. 34-39538.
• The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by these subsidiaries and/or business divisions.
• The subsidiaries and/or business divisions will continue to pursue the same investment strategies as previously.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative filing. It reflects a change in reporting structure for The Vanguard Group, not a change in investment strategy or a performance indicator for Coinbase Global Inc.

Future Outlook

The filing indicates that Vanguard's subsidiaries and/or business divisions will continue to pursue the same investment strategies as previously, despite the change in reporting structure for The Vanguard Group, Inc. itself.

Management Comments

• I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11.

Industry Context

StockSavvy.ai notes that internal realignments and subsequent changes in beneficial ownership reporting are common for large, diversified asset managers like The Vanguard Group. This shift to disaggregated reporting aligns with SEC guidance and provides more granular detail on ownership by specific entities within the larger group, without necessarily indicating a change in overall investment strategy towards Coinbase Global Inc. by Vanguard's collective funds.

Corporate Governance

Stakeholder Impact

• Minimal direct impact on Coinbase Global Inc. shareholders, as the change primarily affects how The Vanguard Group reports its beneficial ownership, not necessarily its underlying investment in Coinbase.
• Vanguard's clients will see beneficial ownership reported by specific subsidiaries or business divisions rather than solely by the parent entity.

Key Dates

Keywords

Coinbase Global Inc., Vanguard Group, Schedule 13G, beneficial ownership, institutional ownership, SEC filing, common stock, asset management, reporting change