TLDR
- Coinbase stock climbed more than 10% following the rollout of U.S. stock and ETF trading capabilities
- A collaboration with Yahoo Finance enables seamless transition from market research to executing trades
- The “Coinbase Premium” indicator flipped to positive territory, reflecting stronger crypto demand
- Revenue from stablecoins reached $1.35B in 2025, representing a 48% annual increase
- Analysts from Bloomberg project USDC revenue could multiply between 2x and 7x following GENIUS Act implementation
Coinbase ($COIN) experienced a remarkable Wednesday trading session. Shares climbed toward the $185 mark, representing a 22% jump within 24 hours, following the company’s announcement that U.S. stock and ETF trading capabilities are now available to its entire user base.
This expansion represents a significant milestone in Coinbase’s ambition to create the world’s premier “Everything Exchange” — a unified marketplace where customers can access both cryptocurrency and conventional equity markets.
Supporting this product launch, Coinbase forged a strategic alliance with Yahoo Finance. This integration enables users to seamlessly transition from conducting investment research on Yahoo Finance to executing transactions on Coinbase with just one click.
The feature expansion provides millions of current Coinbase users with the ability to purchase and sell U.S. stocks alongside their cryptocurrency portfolios on a single platform.
Market optimism received additional support from the “Coinbase Premium” indicator turning positive. This widely-monitored metric serves as a barometer for Bitcoin purchasing appetite among U.S. investors.
The stock had already posted a 3.6% increase five days prior, following a Supreme Court decision that invalidated aspects of President Trump’s tariff plan. The 6-3 ruling determined that the executive branch cannot unilaterally impose tariffs without Congressional authorization.
Despite Wednesday’s impressive performance, COIN remains down 23.5% year-to-date. The stock currently trades around $185, significantly below its 52-week peak of $419.78 reached in July 2025.
An investor who allocated $1,000 to Coinbase during its April 2021 public debut would hold approximately $551 in value today.
Stablecoin Revenue Emerging as Key Growth Driver
While transaction fees typically dominate investor attention, Coinbase’s stablecoin-derived revenue has been steadily expanding. During 2025, the platform generated approximately $1.35 billion from stablecoin operations, representing a 48% surge from $911 million in 2024.
This business line now represents 19% of Coinbase’s aggregate annual revenue.
The revenue stream originates from interest generated on reserves supporting Circle’s USDC stablecoin. These reserves are invested predominantly in U.S. Treasury securities, with Coinbase earning a portion of the yield.
This creates a more predictable revenue source compared to trading fees, which fluctuate dramatically with cryptocurrency volatility. While Coinbase’s Q4 2025 revenue declined 20% amid falling crypto prices, stablecoin earnings remained comparatively stable.
GENIUS Act May Unlock Substantial Revenue Growth
Bloomberg analysts Paul Gulberg and Samuel Radowitz identify the GENIUS Act — enacted in July 2025 — as a potential game-changer for this income stream.
The legislation creates a comprehensive federal regulatory structure for stablecoin creation and supervision, potentially eliminating obstacles to USDC adoption in international payments and retail transactions.
Expanded USDC utilization translates to larger reserve holdings, increased Treasury yields, and enhanced revenue for Coinbase. The analysts project USDC-linked revenue could expand between two-fold and seven-fold under optimal scenarios.
Reaching the upper projection depends on whether Coinbase maintains its ability to provide customer incentives for USDC holdings. Discussions surrounding the CLARITY Act may influence these reward structures.
COIN was changing hands near $185 during Wednesday’s trading hours, reflecting an approximately 22% daily gain.
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