OKX Sees Bitcoin Holdings Climb in Its 47th Reserve Check

OKX has published its 47th consecutive proof-of-reserves report, listing 139,865 BTC in customer account assets based on a Sept. 8 snapshot. The figure represents a 4.07% increase from the exchange's previous Aug. 11 report and brings total primary assets to $27.4 billion, according to the exchange's reserve page.

Bitcoin Reserve Ratio Slips to 109% as User Deposits Grow

The September snapshot recorded 153,151 BTC in exchange-controlled wallet assets against the 139,865 BTC held in user accounts, producing a Bitcoin reserve ratio of 109%. OKX classified 146,359 BTC under its own custody and another 6,792 BTC with third-party custodians.The August report had listed 134,399 BTC in account assets and 148,552 BTC in wallet holdings, giving a reserve ratio of 111%. User holdings therefore increased by 5,466 BTC between the two reporting dates, while the reserve ratio narrowed as customer deposits grew faster than wallet assets.

OKX Positions Reserve Streak as a Trust Signal

OKX framed the publication as part of a sustained transparency push that began after the collapse of FTX in late 2022. The exchange calls the September publication its 47th consecutive proof-of-reserves report, using the milestone to highlight its ongoing reserve disclosures."Transparency you can verify. Month after month," OKX wrote on X, in a post announcing its 47th consecutive proof-of-reserves report and $27.4 billion in primary assets. OKX's reserve page shows reserve ratios above 100% for several of its primary assets.The statement matters because a reserve ratio alone does not capture off-chain liabilities or encumbrances that a full financial audit would examine. Proof-of-reserves snapshots verify that an exchange controls enough on-chain assets to cover recorded customer balances at a single point in time.

Declining Ratios Can Reflect Healthy Growth

The drop from 111% to 109% in Bitcoin's reserve ratio may appear negative at first glance, but it reflects a faster increase in user deposits than in new wallet assets. A ratio consistently above 100% indicates that OKX holds more than enough to cover customer claims, even as its user base expands. In this case, the lower ratio reflects customer deposits growing faster than the exchange's reported wallet assets between the two snapshots. The ratio can therefore change as customer balances and exchange-controlled assets move at different rates.

ETH and USDT Balances Also Rose in September

Ether user holdings rose 3.49% to 1,785,866 ETH, with a reserve ratio of 101%. USDT customer balances climbed 4.62% to approximately 8.493 billion tokens, producing a reserve ratio of 105%. OKX's reserve page lists coverage for 22 coins, with USDC at 100%, XRP at 108%, and Solana at 105%.OKX has not listed a date for its 48th report on its current download page. The exchange's published schedule shows monthly snapshots throughout 2026, with previous reports dated Aug. 11, July 7, June 19, May 7, April 20, and March 3.