Bitcoin ETF

SPYRO

<p><span style="font-weight: 400;">Coinbase (COIN) shares surged after the U.S.-based crypto exchange achieved better-than-expected fourth-quarter earnings and revenue.</span></p>
<p><span style="font-weight: 400;">Coinbase earned $1.04 per share in the last quarter, substantially higher than the average estimate of $0.02 per share by analysts, according to FactSet data. It also exceeded analysts’ revenue forecast of $826.1 million after it posted $953.8 million in revenue, it </span><a href="https://www.sec.gov/Archives/edgar/data/1679788/000167978824000019/shareholderletterq42023.htm" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">said</span></a><span style="font-weight: 400;">.</span></p>
<p><span style="font-weight: 400;"><img decoding="async" src="https://theintercept.com/wp-content/uploads/2022/06/GettyImages-1232307162-coinbase-dhs.jpg?fit=2000%2C1000" alt="Cryptocurrency Titan Coinbase Providing “Geo Tracking Data” to ICE">&nbsp;&nbsp;</span></p>
<p>Coinbase shares have soared 15.5% in the past 24 hours to trade at $191.72 as of 11:15 a.m. EST. They’re up almost 36% in the past five days.</p>
<h2 id="span-style-font-weight-400-cathie-wood-s-ark-invest-sells-coin-shares-during-portfolio-adjustment-span"><span style="font-weight: 400;">Cathie Wood’s ARK Invest Sells COIN Shares During Portfolio Adjustment</span></h2>
<p><span style="font-weight: 400;">Coinbase’s stellar share performance prompted Cathie Wood-led</span><a href="https://insidebitcoins.com/news/cathie-woods-ark-invest-and-21shares-amend-ethereum-etf-filing-to-make-it-cash-only" rel="noopener noreferrer nofollow"><span style="font-weight: 400;"> Ark Invest</span></a><span style="font-weight: 400;"> to take profits as part of a portfolio adjustment. The firm sold a total of 162,762 COIN shares for approximately $26.7 million through its flagship ARK Innovation ETF and ARK Genomic Revolution ETF.</span></p>
<p><span style="font-weight: 400;">Ark Invest also decreased its exposure to the booming AI sector after it sold shares in Nvidia Corporation and Alphabet Inc, which are both pivotal players in the ongoing AI frenzy. THe company sold 4,671 Nvidia shares through ARK Autonomous Technology &amp; Robotics ETF and ARKG.</span></p>
<h2 id="span-style-font-weight-400-bitcoin-etf-buildup-leads-to-increased-trading-volume-on-coinbase-span"><span style="font-weight: 400;">Bitcoin ETF Buildup Leads To Increased Trading Volume On Coinbase</span></h2>
<p><a href="https://insidebitcoins.com/news/coinbase-pay-launches-on-ledger-live-to-simplify-crypto-purchases" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Coinbase</span></a><span style="font-weight: 400;"> saw a 100% uptick in trading volume from the third to the fourth quarter of 2023 as crypto prices started rallying in anticipation of spot Bitcoin ETF (exchange-traded fund) approvals in the United States. The exchange platform’s fourth-quarter volume amounted to $154 billion, which was also ahead of the estimate of $142.7 billion.</span></p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">Our Q4'23 and full-year 2023 update is in.</p>
 <p>Read the full shareholder letter and tune into our earnings call: <a href="https://t.co/fod43YZKqw" rel="noopener noreferrer nofollow">https://t.co/fod43YZKqw</a> <a href="https://t.co/DJ2NhFyfdU" rel="noopener noreferrer nofollow">pic.twitter.com/DJ2NhFyfdU</a></p>
 <p>— Coinbase 🛡️ (@coinbase) <a href="https://twitter.com/coinbase/status/1758239866234839254?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 15, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p><span style="font-weight: 400;">Vice president of investors relations Anil Gupta told CoinDesk that the ETFs are a “win-win for Coinbase.” It provides custody services to 8 out of the ten new spot </span><a href="https://insidebitcoins.com/news/bitcoin-price-prediction-btc-pumps-13-in-7-days-to-boost-microstrategy-bitcoin-profits-above-4-billion-as-this-bitcoin-derivative-closes-on-11-million" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Bitcoin</span></a><span style="font-weight: 400;"> ETFs, and although custody is “a relatively small part of the business,” Gupta said that ETFs are “invigorating the entire sector.’’ </span></p>
<p><span style="font-weight: 400;">This has resulted in “a lot of activity and engagement on the platform,” he said.</span></p>
<h3 id="span-style-font-weight-400-related-articles-span"><span style="font-weight: 400;">Related Articles:</span></h3>
<ul>
 <li style="font-weight: 400;" aria-level="1"><a href="https://www.linkedin.com/pulse/5-top-crypto-presales-2024-unveiling-most-anticipated-calsona-gxcce/" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">5 Top Crypto Presales 2024: Unveiling the Most Anticipated Opportunities!</span></a></li>
 <li style="font-weight: 400;" aria-level="1"><a href="https://insidebitcoins.com/news/citibank-says-blockchain-may-make-asset-management-more-efficient-after-tokenization-experiment-on-avalanche" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Citibank Says Blockchain May Make Asset Management More Efficient After Tokenization Experiment On Avalanche</span></a></li>
 <li style="font-weight: 400;" aria-level="1"><a href="https://insidebitcoins.com/news/spyro-price-prediction-dragon-themed-meme-coin-spyro-plunges-32-while-solana-competitor-smog-dominates-with-68-pump" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">SPYRO Price Prediction: Dragon-Themed Meme Coin SPYRO Plunges 32% While Solana Competitor Smog Dominates With 68% Pump</span></a></li>
</ul>
<div class="inContentProviderSingle inContentColor--insidebitcoins fc-row">
 <div class="inContentProviderSingle--wrapper">
  <div class="container">
   <div class="row mb-lg-3">
    <div class="col-12 col-md-8">
     <p class="inContentProviderSingle--title">New Crypto Mining Platform - Bitcoin Minetrix</p>
    </div>
    <div class="col-12 col-md-4">
     <div class="inContentProviderSingle--rating">
      <div class="rating--holder">
       <p class="rating--text">Rating</p>
       <div class="rating--star-container">
        <div class="rating--star" style="width: 100%;"></div>
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="row">
    <div class="col-12 col-md-12 text-center d-block d-sm-block d-md-none d-lg-none"><img decoding="async" class="inContentProviderSingle--img mb-3" src="https://insidebitcoins.com/wp-content/uploads/2023/09/bitcoin-minetrix.svg" alt="Bitcoin Minetrix" width="125" height="60">
    </div>
    <div class="col-12 col-md-8">
     <ul class="inContentProviderSingle--list">
      <li>Audited By Coinsult</li>
      <li>Decentralized, Secure Cloud Mining</li>
      <li>Earn Free Bitcoin Daily</li>
      <li>Native Token On Presale Now - BTCMTX</li>
      <li>Staking Rewards - Over 50% APY</li>
     </ul>
    </div> 
    <div class="col-12 col-md-4 d-none d-sm-none d-md-block d-lg-block"><img decoding="async" class="inContentProviderSingle--img float-right" src="https://insidebitcoins.com/wp-content/uploads/2023/09/bitcoin-minetrix.svg" alt="Bitcoin Minetrix" width="125" height="60">
    </div>
   </div>
   <div class="row">
    <div class="col-12 text-center">
     <div class="inContentProviderSingle--button"><a href="https://insidebitcoins.com/visit/bitcoinminetrix" title="Start Trading" rel="noopener noreferrer nofollow">Learn More</a>
     </div>
     <div class="inContentProviderSingle--disclaimerText">
     </div>
    </div>
   </div>
  </div>
 </div>
</div>

Coinbase Shares Surge After Beating Earnings Forecasts As Cathie Wood’s Ark Invest Takes Profits

Table of Contents

Inside Bitcoins

Other articles published on Feb 16, 2024

Gold Pushes Above $2,000 But Continued Recovery “Unlikely”

Bitcoin Boom Countdown: Galaxy CEO Casts Bullish Sentiments As Halving Draws Near

$1.1B Bitcoin Options Expiring as Futures Traders Bet on New BTC Price Highs

Here’s Why the XRP Price Can Increase by Another 25% in February

Cardano (ADA) Gains Momentum with Notable Price Increase

Aptos Introduces JamboPhone, Rivals Solana's Crypto Smartphone

Join our free newsletter for daily crypto updates!