Binance has published its 44th monthly proof-of-reserves report, giving users a new snapshot of customer asset balances across the exchange. The June 2026 report shows customer Bitcoin holdings rising while Ethereum and Tether balances declined.
Customer BTC holdings increased by approximately 7,715 BTC, representing a 1.22% rise from the prior measurement period. By contrast, customer ETH balances fell by roughly 58,591 ETH, while USDT reserves declined by approximately 1.51%.
Reserve Snapshot Shows Custody Composition, Not User Intent
Binance’s Proof of Reserves portal uses Merkle tree verification, allowing users to cryptographically check whether their balances were included in the snapshot. That mechanism supports custody transparency by showing how customer liabilities are represented at a specific point in time.
The figures reflect account balances at a fixed measurement date, not trading volume, net flows or investor behavior. A reserve snapshot cannot determine whether changes came from fiat deposits, asset conversions, institutional custody routing or routine withdrawals.
That distinction matters because exchange balance changes can be misread as direct market signals. Higher BTC balances may reflect accumulation, but they may also reflect custody preference, settlement timing or internal portfolio movement across user accounts.
MiCA Transition Adds Compliance Context
The timing overlaps with the European Union’s MiCA transition period, which reached a key operational milestone on July 1. Centralized exchanges, including Binance, adjusted some service parameters for European users in response to licensing and stablecoin requirements.
Compliance changes can create temporary shifts in custodial balances as products are reorganized, listings are adjusted or liquidity is consolidated across jurisdictions.
Monthly reserve disclosures have become a baseline transparency tool for centralized crypto venues since the custody failures of 2022. Their main value is solvency visibility and asset-backing verification, not price forecasting.
Binance’s 44th report confirms a June reserve snapshot with higher customer BTC balances and lower ETH and USDT holdings. The next meaningful signal will come from future monthly snapshots showing whether these shifts were temporary balance adjustments or part of a broader custody preference trend.