NEW YORK, December 31, 2025, 13:04 ET — Regular session
- Coinbase shares fell 1.3% to $228.52 in early afternoon trading.
- Bitcoin eased 0.8%, with crypto-linked stocks mixed across the board.
- Traders are looking ahead to the New Year’s Day market break and Coinbase’s next earnings update.
Coinbase Global (COIN) shares fell 1.3% to $228.52 in early afternoon trading on Wednesday. The stock has ranged between $228.16 and $232.62.
The crypto exchange’s stock has been moving in step with digital-asset sentiment, and year-end trading has been thin, a mix that can exaggerate intraday swings. Wall Street’s major indexes were slightly lower in the final session of 2025, Reuters reported. 1
Bitcoin was down 0.8% at about $87,538. Crypto-linked equities were mixed: Strategy slid 1.7%, Robinhood fell 0.5% and bitcoin miner Riot Platforms rose 2.0%.
Coinbase closed Tuesday at $231.60, according to the company’s investor-relations quote page. 2
For many investors, Coinbase is a proxy—a stand-in—for crypto exposure because the shares often track bitcoin’s direction.
Coinbase’s results can be sensitive to trading activity, since the company earns fees when customers buy and sell crypto. When markets are quiet, volumes typically cool; when prices swing, activity often picks up.
Earlier this month, Coinbase said it would start letting users trade stocks and event contracts through its app, partnering with prediction-market operator Kalshi. Event contracts are wagers on outcomes such as elections, sports or economic data and have drawn scrutiny from some state regulators, while putting Coinbase more directly up against brokerages such as Robinhood and Interactive Brokers. Coinbase executive Max Branzburg said the company aims to offer “the greatest variety of contracts available on one platform,” and Coinbase said it plans to launch tokenized stocks, digital versions of shares, in coming months. 3
With liquidity thin into year-end, bitcoin’s moves remained a key driver for crypto-linked stocks.
U.S. equity markets are closed Thursday for New Year’s Day and reopen Friday, while crypto markets continue to trade through the holiday, according to MarketWatch. 4
Coinbase has not confirmed its next earnings date; Nasdaq’s earnings calendar shows an estimated Feb. 12 report date. Investors will look to that update for clues on trading activity and the pace of new product rollouts. 5
