Shares of Coinbase Global, Inc. COIN swung wildly in the early hours of the after-hours trading session on Feb. 12 and then edged slightly higher (as cited in a Yahoo Finance excerpt) following the company’s dismal fourth-quarter 2025 results. This crypto exchange failed to meet Wall Street analysts’ expectations on the top and bottom-line figures.
While COIN’s shares did post a slight rebound in the after-hours trading session, it is important to note that in the previous trading session, the stock lost nearly 8% on the bourses, primarily due to a slump in Bitcoin (BTC) prices.
Due to the steadily plummeting price of Bitcoin, the stock has lost almost 65% since early October 2025.
Against this backdrop, an investor may not feel particularly confident about investing in COIN at the moment. However, given that
Coinbase operates one of the largest cryptocurrency exchanges and brings deep expertise in digital assets, some investors may still prefer to maintain exposure to the stock — either directly or through exchange-traded funds (ETFs) with significant holdings in COIN.
As Coinbase remains optimistic about the long-term trajectory of the crypto industry, the basket approach will allow investors to capture potential upside in the stock while mitigating company-specific risks that could adversely impact profits during times of unprecedented crisis.
But before diving straight into these ETFs, let us analyze Coinbase’s overall fourth-quarter performance across key metrics, along with its outlook.
A Brief Analysis of COIN’s Q4 Results
Coinbase’s fourth-quarter earnings and revenues fell short of the consensus mark by 28.3% and 0.6%, respectively. On a year-over-year basis, the company witnessed a decline on both counts.
Segment-wise, its Transaction revenues grew 13.5% year over year, while the subscription and services unit suffered a 36.8% plunge in its top line.
In the fourth quarter, COIN hit an all-time high in USDC stored in Coinbase products, which helped USDC reach an all-time high market cap of about $75 billion. The company increased its bitcoin holdings by $39 million in the reported quarter, driven by weekly purchases for its crypto investment portfolio.
As of Dec. 31, 2025, the fair market value of Coinbase’s crypto assets held for investment had a fair market value of $2.0 billion, while those held as collateral were valued at $823 million.
The company aims to expand stablecoin utility with deeper product integrations in 2026, scaling out its payment infrastructure in Coinbase developer platform and Coinbase business.
For the first quarter of 2026, Coinbase expects to generate subscription and services revenues in the range of $550-$630 million, reflecting the impact of a lower average crypto price environment.
Coinbase-Heavy ETFs in Spotlight
First Trust SkyBridge Crypto Industry & Digital Economy ETF CRPT
This fund, with net assets worth $90.3 million, offers exposure to 21 companies from the crypto industry, including Bitcoin Exchange-Traded Products and Digital Economy companies. Of these, Coinbase carries the fourth spot, holding 10.21% of the fund.
The fund charges 85 basis points (bps) as fees.
iShares Blockchain and Tech ETF IBLC
This fund, with assets worth $73 million, offers exposure to 37 U.S. and non-U.S. companies that are involved in the development, innovation, and utilization of blockchain and crypto technologies. Of these, Coinbase carries the second spot, holding 8.21% of the fund.
The fund charges 47 bps as fees.
Global X Blockchain ETF BKCH
This fund, with net assets worth $252.7 million, provides exposure to 35 companies that are positioned to benefit from further advances in the field of blockchain technology. Of these, Coinbase carries the fourth spot, holding 7.89% of the fund.
BKCH has surged 111.9% year to date. The fund charges 50 bps as fees.
Bitwise Crypto Industry Innovators ETF BITQ
This fund, with assets under management (AUM) worth $336.7 million, provides exposure to 29 companies involved in servicing the cryptocurrency markets, including crypto mining firms, crypto mining equipment suppliers, crypto financial services companies, or other financial institutions servicing primarily crypto-related clientele. Of these, Coinbase carries the third spot, holding 6.37% of the fund.
The fund charges 85 bps as fees.
Fidelity Crypto Industry and Digital Payments ETF FDIG
This fund, with net assets worth $268.4 million, provides exposure to 76 companies that are engaged in activities related to cryptocurrency, related blockchain technology and digital payments processing. Of these, Coinbase carries the third spot, holding 4.63% of the fund.
The fund charges 39 bps as fees.
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Global X Blockchain ETF (BKCH): ETF Research Reports Coinbase Global, Inc. (COIN): Free Stock Analysis Report Bitwise Crypto Industry Innovators ETF (BITQ): ETF Research Reports First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT): ETF Research Reports Fidelity Crypto Industry and Digital Payments ETF (FDIG): ETF Research Reports iShares Blockchain and Tech ETF (IBLC): ETF Research ReportsThis article originally published on Zacks Investment Research (zacks.com).
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