There's a new reason to buy Coinbase Global (COIN 1.70%), the leading U.S.-based cryptocurrency exchange. But it has nothing to do with crypto.
At the end of February, Coinbase rolled out commission-free 24/5 trading of stocks and exchange-traded funds (ETFs) for all U.S-based customers. That dramatically increases the scale and scope of Coinbase's reach, and further blurs the line between traditional financial markets and the crypto market. So what does it mean for the future of Coinbase stock?
The new "Everything Exchange"
The rollout of 24-hour trading during weekdays of stocks and ETFs is part and parcel of the company's "Everything Exchange" strategy that debuted last year. At the time, Coinbase outlined a vision for the future in which tens of thousands of assets would eventually trade on the Coinbase platform.
Image source: Getty Images.
In January 2026, Coinbase debuted prediction market trading via a new partnership with Kalshi, one of the world's leading prediction markets. And now comes the debut of stocks and ETFs. Right now, more than 8,000 U.S.-listed equites are available for trading.
If this expansion of trading becomes the success that many people think it will, then it could send the price of Coinbase soaring. Indeed, the initial response on Wall Street has been positive. During the past 30 days, Coinbase is up a robust 35% (as of March 6).
How high can Coinbase go?
The problem, however, is that Coinbase's long-term performance has been nothing to write home about. During the past five years, Coinbase stock is down more than 40%.
Although Coinbase has made past efforts to diversify its revenue streams and reduce its reliance on transaction revenue from crypto trading, it's still largely seen as a stock highly leveraged to the current crypto cycle.
CRYPTO: BTC
Key Data Points
Long story short, if Bitcoin is going gangbusters, then Coinbase has much more upside potential because crypto traders are trading more. A surging Bitcoin lifts all crypto boats. But if Bitcoin is struggling (as it is now), then Coinbase is also going to struggle.
That's why I'm so bullish on this latest move. It makes Coinbase much less dependent on the current crypto cycle. And it further advances Chief Executive Officer Brian Armstrong's goal of making Coinbase "the No. 1 financial services app in the world." If Coinbase moves further into other areas of trading, such as tokenized assets and financial derivatives, that's when its stock could really take off.
NASDAQ: COIN
Key Data Points
Right now, Coinbase is a $200 stock. But if Wall Street analysts are right, it could be a $300 stock by the end of 2026. That's a nifty 50% return on investment. If you believe in the long-term growth potential of the blockchain and crypto economy, then Coinbase is looking like an interesting investment opportunity right now.
