Bitcoin ETF has seen a huge influx in capital in the past weeks. The hype around the ETF has resulted in more investors trying to hop on the crypto bandwagon via traditional institutions. A recent Yahoo Finance report shows that Coinbase is benefitting significantly from the hype around Bitcoin ETF.
Coinbase Retail Investors Surge as Bitcoin ETF Improves Sentiments
Coinbase saw a surge in its stock price last week after swinging to profit for the first time after 2021. The company also saw Q4 institutional transaction revenue ascending to $37 million. It was up 161% quarter on quarter suggesting an increase in investor traction. Institutional trading volume for the same time also increased by 92% q-o-q, in line with the US spot market. According to a Yahoo Finance interview, the overall increase in Coinbase’s institutional transactions was a ripple effect of the hype around the…
