Coinbase Global COIN reported solid fourth-quarter 2024 results on Feb. 13, after the closing bell. It surpassed estimates on both earnings and revenues, benefiting from higher trading volumes in Bitcoin and other digital tokens following the U.S. election. The biggest U.S. cryptocurrency exchange logged the highest quarterly revenues in three years.
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Coinbase shares jumped as much as 2% in after-market hours trading after the earnings release. Investors seeking to tap the robust results should buy ETFs with double-digit exposure to this largest U.S. cryptocurrency exchange. These include First Trust SkyBridge Crypto Industry & Digital Economy ETF CRPT, Global X Blockchain ETF BKCH, Fidelity Crypto Industry and Digital Payments ETF FDIG, ARK 21Shares Blockchain and Digital Economy Innovation ETF ARKD and ARK Fintech Innovation ETF ARKF.
Coinbase's earnings per share were $4.68, which surpassed the Zacks Consensus Estimate of $1.94 and improved from the year-ago earnings of $1.04. Revenues jumped 88% from the previous quarter and 138% year over year to $2.27 billion and beat the consensus estimate of $1.73 billion. The robust results were driven by rising trading activity and a shift in the regulatory landscape (read: Bitcoin ETFs Brimming With Inflows Amid Tariff Turmoil).
Trading volume spiked 185% year over year to $439 billion, driven by retail trades. Consumer trading volume skyrocketed 224%, while institutional trading rose 176% from the year-ago quarter. Total transaction revenues more than doubled from the year-ago period to $1.56 billion, while subscription and services revenues climbed to $641 million.
In the first quarter of 2025, Coinbase expects transaction revenues of about $750 million through Feb. 11, with subscription and services revenues projected to be between $685 million and $765 million.
Coinbase is upbeat about its future growth, calling the latest regulatory shifts under the Trump administration the “dawn of a new era for crypto.” The company says it will “double down on what we’ve always focused on: building,” with plans to boost stablecoin adoption, grow its layer-2 network Base and expand crypto payments.
First Trust SkyBridge Crypto Industry & Digital Economy ETF (CRPT)
First Trust SkyBridge Crypto Industry and Digital Economy ETF is designed to provide exposure to companies that SkyBridge believes are driving cryptocurrency, crypto assets and digital economies-related innovation. SkyBridge identifies securities primarily via “bottom up” research focused on finding companies leading in the crypto industry ecosystem. First Trust SkyBridge Crypto Industry & Digital Economy ETF holds 28 stocks in its basket, with Coinbase occupying the second position at 18% share.
First Trust SkyBridge Crypto Industry & Digital Economy ETF charges 85 bps in fees per year from investors. It has amassed $101.4 million in its asset base and trades in an average daily volume of 101,000 shares.
Global X Blockchain ETF (BKCH)
Global X Blockchain ETF seeks to invest in companies positioned to benefit from the increased adoption of blockchain technology, including companies in digital asset mining, blockchain and digital asset transactions, blockchain applications, blockchain and digital asset hardware, and blockchain and digital asset integration. Global X Blockchain ETF follows the Solactive Blockchain Index and holds 25 stocks in its basket. Here, Coinbase is the top firm, accounting for 15% of the assets.
Global X Blockchain ETF has gathered $183.7 million in its asset base and trades in an average daily volume of 71,000 shares. It charges 50 bps in annual fees (read: Wall Street Rebounds as Inflation Cools: ETF Winners).
Fidelity Crypto Industry and Digital Payments ETF (FDIG)
Fidelity Crypto Industry and Digital Payments ETF offers exposure to companies engaged in activities related to cryptocurrency, blockchain technology and digital payments processing. It tracks the Fidelity Crypto Industry and Digital Payments Index and holds 54 stocks in its basket. Coinbase takes the top spot with a 12.9% share.
Fidelity Crypto Industry and Digital Payments ETF has accumulated $184 million in its asset base and trades in an average daily volume of 102,000 shares. It charges 40 bps in annual fees.
ARK 21Shares Blockchain and Digital Economy Innovation ETF (ARKD)
ARK 21Shares Blockchain and Digital Economy Innovation ETF is one of the first actively managed ETFs to invest in digital asset futures (bitcoin and ether) and public equities of companies engaged in the blockchain industry and/or digital economy, providing holistic exposure to blockchain technology growth. ARKD focuses on a concentrated, high-conviction portfolio of equities through a proprietary valuation model. It holds 11 stocks in its basket, with Coinbase taking the third spot at 13.6% share.
ARK 21Shares Blockchain and Digital Economy Innovation ETF has amassed $4.8 million in its asset base and charges 90 bps in annual fees. It trades in average daily volume of 4,000 shares.
ARK Fintech Innovation ETF (ARKF)
ARK Fintech Innovation ETF is an actively managed fund that invests in companies with the theme of Fintech innovation. The Adviser defines Fintech innovation as the introduction of a technologically-enabled product or service that potentially changes the way the financial sector works, which, ARK believes, includes transaction innovations, blockchain technology, risk transformation, frictionless funding platforms, customer-facing platforms and new intermediaries. The ETF holds 37 stocks, with COIN occupying the second position at 9% of the assets.
ARK Fintech Innovation ETF charges 75 bps in annual fees and trades in an average daily volume of 493,000 shares. It has managed assets worth $1.1 billion.
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ARK Fintech Innovation ETF (ARKF): ETF Research Reports
Global X Blockchain ETF (BKCH): ETF Research Reports
Coinbase Global, Inc. (COIN) : Free Stock Analysis Report
First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT): ETF Research Reports
Fidelity Crypto Industry and Digital Payments ETF (FDIG): ETF Research Reports
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