Coinbase to Report Strong Earnings, ETF Benefits May Surprise Wall Street, Analysts Say
Summary
Coinbase is expected to report strong Q4 earnings due to increased trading volume during the market rally. Analysts predict revenue to reach $826.1 million, with trading volume at $142.7 billion. However, opinions are mixed on the impact of the company's involvement in spot bitcoin ETFs. While some analysts see potential negative effects, others believe the ETFs are driving more interest in the space. Despite the launch of bitcoin ETFs, Coinbase is not expected to lower trading fees. The company's recently launched offshore derivatives exchange is also bringing in significant volume. Traders should look for guidance on expenses in the upcoming report. The shares of the crypto exchange rose about 13% as bitcoin price climbed past $51,000.
