TLDR
- Coinbase shares climbed over 10% following the launch of U.S. stock and ETF trading access for all platform users
- A strategic partnership with Yahoo Finance enables seamless transitions from research to execution
- The “Coinbase Premium” metric shifted into positive territory, indicating strengthening crypto sentiment
- Revenue from stablecoins reached $1.35B in 2025, representing a 48% annual increase
- Bloomberg analysts project USDC revenue could expand 2x–7x if the GENIUS Act drives adoption
Coinbase ($COIN) experienced a powerful Wednesday rally. Shares climbed toward $185 during trading, posting a 22% advance over 24 hours after the exchange unveiled U.S. stock and ETF trading capabilities for its entire user base.
This expansion represents a significant milestone in Coinbase’s ambitious vision to create what it calls the world’s first “Everything Exchange” — a unified destination for trading both digital assets and conventional securities.
To facilitate the debut, Coinbase established a strategic alliance with Yahoo Finance. This integration enables users to transition seamlessly from conducting research on Yahoo Finance directly into executing trades on Coinbase with minimal friction.
The new feature grants millions of existing Coinbase users the ability to purchase and sell U.S. stocks alongside their cryptocurrency portfolios without navigating multiple platforms.
Market sentiment received an additional lift from the “Coinbase Premium” indicator flipping positive. This widely-monitored metric serves as a barometer for U.S. institutional and retail appetite for Bitcoin.
The stock had already posted a 3.6% gain five days prior, buoyed by a Supreme Court decision that invalidated portions of President Trump’s tariff policy. The 6-3 ruling determined that the executive branch cannot unilaterally impose tariffs without Congressional authorization.
Despite Wednesday’s impressive surge, 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 Operations Emerge as Growing Revenue Pillar
While transaction fees typically dominate headlines, Coinbase’s stablecoin-derived revenue has been expanding steadily. During 2025, the platform generated approximately $1.35 billion from stablecoin operations, representing a 48% jump from $911 million the previous year.
This revenue category now comprises 19% of Coinbase’s total annual top line.
The income originates from interest generated on reserves supporting Circle’s USDC stablecoin. These reserves are invested predominantly in U.S. Treasury securities, with Coinbase capturing a portion of the yield generated.
This revenue stream demonstrates greater predictability compared to trading commissions, which fluctuate dramatically with cryptocurrency valuations. When Coinbase’s Q4 2025 revenue contracted 20% amid falling crypto prices, stablecoin income remained comparatively resilient.
GENIUS Act Poised to Accelerate Growth Trajectory
Bloomberg analysts Paul Gulberg and Samuel Radowitz identify the GENIUS Act — enacted in July 2025 — as a potentially transformative driver for this income channel.
The legislation creates a comprehensive federal regulatory structure for stablecoin issuance and supervision, potentially eliminating obstacles to USDC integration in international payments and commercial transactions.
Expanded USDC utilization would translate to larger reserves, enhanced Treasury income, and increased revenue for Coinbase. The analysts project USDC-derived revenue could multiply between two and seven times current levels under optimal scenarios.
Reaching the upper projection depends on whether Coinbase maintains authorization to provide customer incentives for USDC holdings. Ongoing deliberations surrounding the CLARITY Act may influence these reward programs.
COIN was changing hands near $185 during Wednesday’s trading session, reflecting an approximate 22% daily gain.
