3 Little-Known Facts About Why Ethereum ETFs Could Be Mega-Bullish for Coinbase
It has been quite the year for Coinbase Global (NASDAQ: COIN). Crypto is back in a bull market, the Securities and Exchange Commission (SEC) approved spot Bitcoin (CRYPTO: BTC) exchange-traded funds (ETFs), and Coinbase posted its first profitable quarter in more than two years. As a result, its stock has risen more than 275% in the last year.
And as is common in bull markets, the good news keeps on coming. Rumors are swirling that the SEC will green-light a spot Ethereum (CRYPTO: ETH) ETF soon. Not only is Coinbase going to be the custodian for some of these ETFs, but a pending approval will also create a domino effect of benefits for the company as interest in Ethereum grows.
Here are three little-known facts about why the Ethereum ETF approval will give the company a major boost.
Source Fool.com
Coinbase Global Inc. Stock
Currently there is a rather positive sentiment for Coinbase Global Inc. with 31 Buy predictions and 16 Sell predictions.
On the other hand, the target price of 161 € is below the current price of 223.8 € for Coinbase Global Inc., so the potential is actually -28.06%.
