TLDR
- Coinbase shares rose more than 10% following the full launch of U.S. stock and ETF trading for its user base.
- The company formed a partnership with Yahoo Finance to simplify the process from market research to executing trades.
- The “Coinbase Premium” indicator moved into positive territory, reflecting a boost in cryptocurrency market confidence.
- Revenue from stablecoins reached $1.35 billion in 2025, a 48% increase compared to the previous year.
- According to Bloomberg analysts, revenue linked to USDC has the potential to multiply by two to seven times under the GENIUS Act.
Coinbase ($COIN) experienced a significant Wednesday. The stock price climbed toward $185 in the day’s trading, representing a 24-hour increase of 22%, after the firm revealed the full public launch of U.S. stock and ETF trading.
This initiative marks an important advancement in Coinbase’s declared ambition to become the premier “Everything Exchange” — a unified venue for trading both cryptocurrency and traditional stocks.
To facilitate the launch, Coinbase entered into a collaboration with Yahoo Finance. This integration enables users to transition seamlessly from conducting research on Yahoo Finance to placing a trade on Coinbase with one click.
The expansion permits millions of current customers to purchase and sell U.S. stocks together with their cryptocurrency assets on one platform.
Market sentiment also improved due to a cryptocurrency metric known as the “Coinbase Premium,” which shifted to positive. This gauge is closely monitored as an indicator of U.S. institutional demand for Bitcoin.
The stock had already increased 3.6% five days prior, after a Supreme Court decision overturned a part of former President Trump’s tariff plan. The 6-3 ruling determined the executive branch does not have the power to enact tariffs without Congressional approval.
Even with Wednesday’s strong performance, COIN remains 23.5% lower since the beginning of the year. The share price is currently around $185, significantly under its 52-week peak of $419.78 reached in July 2025.
An investment of $1,000 in Coinbase at its initial public offering in April 2021 would be worth approximately $551 today.
Stablecoin Revenue Becoming a Bigger Part of the Business
Although trading commissions attract attention, revenue from stablecoins has been expanding steadily. For 2025, the company produced an estimated $1.35 billion from stablecoin-related earnings, a 48% rise from $911 million in 2024.
This business segment now represents 19% of Coinbase’s total yearly revenue.
The earnings are derived from interest generated by the reserves that back Circle’s USDC stablecoin. These reserves are held mostly in U.S. Treasury securities, and Coinbase receives a share of the interest income.
This source of revenue is more predictable than trading fees, which fluctuate widely with cryptocurrency valuations. When Coinbase’s Q4 2025 revenue fell 20% amid a crypto market downturn, income from stablecoins remained comparatively firm.
GENIUS Act Could Push Revenue Higher
Bloomberg Intelligence analysts Paul Gulberg and Samuel Radowitz state that the GENIUS Act — enacted in July 2025 — may serve as a significant driver for this revenue channel.
The legislation creates a national regulatory structure for stablecoin issuance and supervision, which could reduce obstacles to USDC usage in international payments and commercial transactions.
Broader adoption of USDC would lead to larger reserves, greater Treasury interest, and increased revenue for Coinbase. The analysts project that USDC-related revenue could expand by a factor of two to seven from present levels under optimal circumstances.
Achieving the higher end of this projection hinges on Coinbase’s ability to continue providing customer incentives for holding USDC. Ongoing discussions related to the CLARITY Act may influence these reward programs.
COIN was changing hands near $185 in Wednesday’s trading, up approximately 22% for the day.
