TLDR
- Coinbase stock jumped 12.1% on Tuesday, closing at $344.82 per share
- The company filed with the SEC to add stock trading services using blockchain technology
- Senate passed the GENIUS Act bill establishing regulatory framework for stablecoins
- Ark Invest purchased nearly 4,200 shares across two funds on Monday
- Benchmark analysts raised their price target from $301 to $421
Coinbase Global stock climbed 12.1% on Tuesday to close at $344.82 per share. The cryptocurrency trading platform has gained about a third of its value over the past five sessions.
The stock touched an intraday high of $344.94 during Tuesday’s session. This represents the highest level since December 6 when shares reached $349.75.
Stock Trading Push Creates New Revenue Stream
Coinbase filed with the Securities and Exchange Commission last week to offer stock trading through blockchain technology. The move would put the company in direct competition with Robinhood Markets and Charles Schwab.
⚡️NEW: COINBASE WANTS TO TOKENIZE STOCKS!
Coinbase is seeking SEC approval to offer tokenized equities to U.S. users, per Reuters. pic.twitter.com/bJBHL2gZrE
— Coin Bureau (@coinbureau) June 17, 2025
The company described the stock trading initiative as “a huge priority.” This expansion would help Coinbase diversify beyond its core cryptocurrency business.
The proposed service involves tokenizing equities. Shares of companies get converted into digital tokens similar to cryptocurrencies.
Instead of holding securities directly, investors would own tokens representing ownership of the securities. This creates a new way to trade traditional stocks using blockchain infrastructure.
Senate Passes Stablecoin Legislation
The Senate officially approved the GENIUS Act bill on Monday. The legislation establishes a regulatory framework for stablecoin usage in financial markets.
If signed into law, the bill would expand cryptocurrency adoption across traditional finance. This regulatory clarity removes uncertainty that has held back institutional adoption.
Stablecoins are cryptocurrencies pegged to stable assets like the US dollar. They serve as a bridge between traditional finance and digital assets.
The legislation would allow these digital currencies to compete more directly with traditional payment providers. Banks and fintech companies currently dominate the payments landscape.
Bitcoin and other major cryptocurrencies rebounded Tuesday after weekend declines. The US launched attacks on nuclear facilities in Iran over the weekend, which initially pressured crypto markets.
Other crypto-related stocks also gained on Tuesday. Robinhood, which offers cryptocurrency trading, rose 7.41% during the session.
Cathie Wood’s Ark Invest purchased nearly 4,200 Coinbase shares across two funds on Monday. The high-profile investment manager has been a vocal supporter of cryptocurrency adoption.
Benchmark analysts raised their price target on Coinbase from $301 to $421. The new target suggests analysts see further upside potential in the stock.
The company’s rally reflects growing investor confidence in the cryptocurrency sector. Regulatory progress and business expansion plans are driving renewed interest.
Coinbase has been working to reduce its dependence on volatile cryptocurrency trading volumes. The stock trading initiative represents a major step in this diversification strategy.
The platform already offers various cryptocurrency services beyond basic trading. These include staking rewards, institutional custody, and payment processing.
Trading volumes typically drive Coinbase’s revenue performance. Adding stock trading could provide more stable income streams during crypto market downturns.
The company continues to benefit from increased institutional interest in digital assets. Large corporations and investment funds are allocating more capital to cryptocurrencies.
Benchmark analysts reportedly boosted their price target following the recent regulatory developments and business expansion announcements.
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