Coinbase Boosts Bitcoin Holdings and Announces Tokenized Stocks Launch
Coinbase (COIN) is increasing its bitcoin (BTC) holdings and plans to launch tokenized U.S. stocks and prediction markets to diversify its revenue. Key points include:
- Coinbase acquired an additional 2,509 BTC in Q2.
- CEO Brian Armstrong emphasized a long-term commitment to bitcoin.
- The company is not positioning itself as a BTC treasury but as a crypto operating firm.
- Coinbase confirmed plans for tokenized U.S. equities, allowing trading of fractional shares on blockchain.
- The SEC approval for tokenized stock trading is being sought.
- Competitors Robinhood and Kraken have launched tokenized stocks outside the U.S.
- Prediction markets are also in development, pending regulatory approval.
- Recent earnings report showed a decline in retail trading volume, with shares down 6% post-market.
Coinbase aims to create a comprehensive trading platform, integrating various asset types on-chain.