Is Coinbase in the Crosshairs? The Multimillion-Dollar Dilemma It Faces as Bitcoin ETFs Surge in Popularity.
Before Jan. 10, the only means of gaining true Bitcoin (CRYPTO: BTC) exposure was by directly purchasing the cryptocurrency off of an exchange, such as Coinbase Global (NASDAQ: COIN). But now investors can buy shares of one of 11 newly approved spot Bitcoin exchange-traded funds (ETFs) through conventional brokerages.
This has created some concern that the ETFs could jeopardize one of Coinbase's main uses and source of income. However, this assumption fails to paint the full picture. Here's why the ETFs will likely be a net gain for Coinbase over the long term.
Image source: Getty Images.
Source Fool.com
Coinbase Global Inc. Stock
€223.80
4.660%
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%.
