JPMorgan Analyst Criticizes Coinbase’s Lack of Insights Into Its ETF Business
Coinbase reported strong fourth-quarter earnings on Thursday, partly driven by the launch of the deri spot bitcoin exchange-traded funds (ETFs).
Coinbase reported strong fourth-quarter earnings on Thursday, partly driven by the launch of the deri spot bitcoin exchange-traded funds (ETFs).
The latest price moves in crypto markets in context for Feb. 16, 2024.
Bitcoin has managed to chalk out a double-digit rally recently, ignoring the strength in the dollar index and Treasury yields.
Bitcoin has rallied 35% in three weeks, with mining reward halving due in April.
A stunt from Bitcoin supporters led to the appearance that the U.S. senator and staunch cryptocurrency opponent Elizabeth Warren signed an order for a flag to be flown over the U.S. capitol commemorating Satoshi Nakamoto.
Massive inflows into spot bitcoin ETFs made headlines recently, but other metrics showcase U.S. investors’ appetite for the asset.
Whether the divergence means a migration from gold to bitcoin is a separate question.
The approval of the spot bitcoin ETFs constituted a landmark event for the $1.7 trillion digital asset industry. With institutional investors on board, demand for bitcoin will grow significantly.
The company was the owner of 190,000 bitcoins as of the end of January.
The bank lifted its rating on Coinbase stock to reflect rising crypto prices following the approval of spot bitcoin ETFs in the U.S.