Bitcoin ETFs Pose Risk for Coinbase Stock, Leverage Shares Says

“While it is difficult to quantify the impact of the spot bitcoin ETFs on Coinbase’s revenue in the early days of their listing, over the long-term, the company is likely to be a beneficiary. As Coinbase charges custodial fees based on the total value of each account, not the number of bitcoin, the price of bitcoin is one of the determinants of the value of the funds held in custody,” Rao said.

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