Coinbase Global was selected as a custodian for U.S. spot Bitcoin and Ethereum ETFs. The company agreed to acquire Deribit, a major crypto derivatives and options trading platform. Coinbase is working with the government of Bermuda to help launch what is described as the first fully on chain national economy. NasdaqGS:COIN is trading at $213.48, with the share price showing a 23.2% decline over the past year and a very large gain over three years.
Over shorter periods, the stock is down 11.5% over the past week, 9.9% over the past month, and 9.7% year to date. In that choppy backdrop, these new business moves highlight how Coinbase is trying to broaden beyond its core spot trading activity. For investors, a key question is how these ETF custody, derivatives, and government partnership efforts could influence Coinbase’s fee mix and client base over time. The rest of this article looks at each of these steps in more detail so readers can assess what they might mean for Coinbase’s role in the crypto market.
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