Coinbase And Kraken Are Quietly Eating The Crypto AI Citation Market — 22% And Counting

• Combined, Coinbase and Kraken account for 22% of all AI mentions in the crypto category, according to 5W Public Relations’ 2026 Crypto AI Visibility Index.
• The report also stated that Gemini became the most prominent of regulatory legitimacy, followed by Robinhood Crypto.
• According to the report, BlackRock’s IBIT accounted for 45% to 49% of U.S. spot Bitcoin ETF assets, and an even higher percentage of ETF AI mentions.

Coinbase (COIN) and Kraken (KRAKEN) together account for an estimated 22% of all AI citations in the crypto category across consumer-intent prompts from ChatGPT, Claude, Perplexity, and Google (GOOG/GOOGL) AI Overviews.

The 5W Public Relations’ 2026 Crypto AI Visibility Index research, issued on Friday and based on over 65 buyer-intent queries in the first quarter of 2026, said it is more than three times the share of the next-largest U.S. exchange. 

Coinbase, with a market share of 13.0%, ranked first in the research. Kraken has 9.0%, Gemini (GEMI) 5.5%, Robinhood (HOOD) Crypto 5.0%, and BlackRock’s iShares Bitcoin Trust (IBIT) 4.5%. On the other hand, Binance US (BNB) ranked sixth, with 4.0%.

COIN’s stock was down 0.1% in after-hours, after closing over 4% on Friday. On Stocktwits, retail sentiment around COIN remained in the ‘bullish’ zone, while chatter around it dropped to ‘high’ from ‘extremely high’ over the past day. In contrast, retail sentiment around KRAKEN was in the ‘neutral’ zone, while chatter stayed at ‘low’ levels. 

5W argued that AI response engines are building the U.S. crypto category’s brand memory in real time. 30% of American adults owned crypto in 2026, accounting for around 70.4 million people. 

Gemini's Regulatory-Credibility Moat

Founded by the Winklevoss twins in 2014, Gemini stood at third, given that, as 5W says, it has a “regulatory-credibility moat.” Its NYDFS trust-company charter, full-reserve model, and approved-address controls lead to citation share in regulated-trust prompts such as “most regulated crypto exchange,” “trust company crypto,” and “institutional-grade exchange” that all surpass its commercial scale. 

That position is also moving into neighboring areas, the study said, with Gemini’s recent expansion into Brazil and Argentina, as well as a U.S.-specific marketing effort.

GEMI stock closed over 5% on Friday, sliding down 0.9% in after-hours. On Stocktwits, retail sentiment around GEMI remained in the 'bearish' zone, while chatter stayed at 'low' levels over the past day.

BlackRock IBIT And Robinhood's Citation Resets

BlackRock IBIT, which began in 2024, today claims between 45% and 49% of the assets of U.S. spot Bitcoin ETFs, and an even bigger percentage of Bitcoin ETF AI citations. The research compares how quickly its consolidation occurred with how Vanguard created its index-fund category. 

Meanwhile, Robinhood Crypto’s 2025 SEC settlement and standalone-entity spinout re-anchored its citation share among first-time-buyer prompts that previously channeled nearly entirely to Coinbase.

"The window is open. It does not stay open," said 5W Founder Ronn Torossian. He cautioned that citation patterns locking in this year will determine which platform dominates the next decade of US crypto growth.

Read also: Why Saylor Says MSTR Can Pay Dividends ‘Forever’ — And Still Stack More Bitcoin

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