According to its annual report to the US Securities and Exchange Commission, PayPal (PYPL) held a total of $604 million in bitcoin (BTC), ether (ETH), litecoin (LTC), and bitcoin cash (BCH) for its customers as of Dec. 31. (SEC). Almost 90% of the funds were split between the two most valuable cryptocurrencies in terms of market capitalization: $291 million in BTC and $250 million in ETH. LTC and BCH make up the remaining $63 million. PayPal did not differentiate between the two. The figure compares to $690 million at the end of September, and it corresponds to a period when crypto valuations plummeted following the collapse of exchange FTX.
