COIN - Brian Armstrong Hails Bitcoin ETFs As 'Win-Win' For Coinbase —Here's Why | Benzinga
Coinbase Global Inc (NASDAQ:COIN), the U.S.-based cryptocurrency exchange, reported that its trading volume doubled in the fourth quarter compared to the third quarter, totaling $154 billion.
What Happened: During an earnings call on Thursday, Armstrong said ETFs were a “win-win for Coinbase."
The Coinbase CEO added, "So in preparation for this launch, we won eight of 11 Spot Bitcoin (CRYPTO: BTC) custody mandates from issuers. And today, Coinbase custody is about 90% of the 36 billion in Bitcoin ETF assets as a result. So across the entire industry, we’ve seen over $4 billion of net inflows into Spot Bitcoin ETFs."
Coinbase reported earnings for the fourth quarter that outpaced what experts had anticipated, thanks to an increase in crypto prices. "We are earning revenue, not just on custody, but also ...