ETFs in Spotlight as Coinbase Lags Q4 Earnings & Revenue Estimates

Core Insights - Coinbase Global, Inc. (COIN) reported disappointing fourth-quarter 2025 results, missing Wall Street expectations on both earnings and revenue [1][4] - The stock experienced significant volatility, losing nearly 8% in the previous trading session and approximately 65% since early October 2025, primarily due to declining Bitcoin prices [2][4] Company Performance - In Q4 2025, Coinbase's earnings fell short of consensus estimates by 28.3%, while revenues missed by 0.6% year-over-year [4] - Transaction revenues increased by 13.5% year-over-year, but subscription and services revenues saw a significant decline of 36.8% [4] - Coinbase achieved an all-time high in USDC stored in its products, contributing to a market cap of about $75 billion for USDC [5] - The company increased its Bitcoin holdings by $39 million during the quarter, with a fair market value of its crypto assets held for investment at $2.0 billion and collateral valued at $823 million as of December 31, 2025 [5] Future Outlook - Coinbase aims to enhance stablecoin utility through deeper product integrations and scaling its payment infrastructure in 2026 [6] - For Q1 2026, the company anticipates generating subscription and services revenues between $550 million and $630 million, reflecting the impact of lower average crypto prices [6] ETFs Involving Coinbase - First Trust SkyBridge Crypto Industry & Digital Economy ETF (CRPT) has net assets of $90.3 million and includes Coinbase as a significant holding, representing 10.21% of the fund [7][8] - iShares Blockchain and Tech ETF (IBLC) has assets worth $73 million, with Coinbase holding 8.21% of the fund [9] - Global X Blockchain ETF (BKCH) has net assets of $252.7 million, with Coinbase representing 7.89% of the fund [10] - Bitwise Crypto Industry Innovators ETF (BITQ) has assets under management of $336.7 million, with Coinbase holding 6.37% of the fund [11] - Fidelity Crypto Industry and Digital Payments ETF (FDIG) has net assets of $268.4 million, with Coinbase representing 4.63% of the fund [12]