Yes: Strategy could demand that Coinbase keep their coins separated into their own address(es); so that they may be published/verified. Though, Coinbase has been doing this a long time. They may not necessarily be inclined to restructure their operations to appease Strategy.

A while back, Blackrock proposed a change to their iBit contract with Coinbase so that they could make Coinbase prove reserves (I don't remember what/if there was a resolution to this proposal). Interestingly, instead of simply asking for proof via an address or addresses, what they asked for was essentially the ability to make a full withdrawal on demand (within like 24 hours, I think) - likely because Blackrock knew that Coinbase didn't necessarily keep the iBit account's coins separate from everyone else's. To me, this would provide little comfort at best to iBit holders - but at least Blackrock appears to want to keep Coinbase accountable to them, FWIW.