Coinbase Surpasses Q3 Revenue Expectations Amid Market Volatility
- Coinbase reported Q3 revenue of $1.9 billion, with transaction revenue reaching $1 billion.
- BlackRock’s Bitcoin ETF IBIT experienced outflows of $290.8 million as Bitcoin fell below $110,000.
- REX Shares launched the ULTI ETF, targeting volatile stocks including crypto companies like Core Scientific and Gemini.
Coinbase’s strong Q3 performance was driven by rebounding trading volumes and profitable services such as its Ethereum L2 Base. Meanwhile, BlackRock’s IBIT saw significant outflows due to market volatility, though it maintains a robust cumulative inflow of $88 billion.
The launch of REX Shares’ ULTI ETF reflects continued interest in capitalizing on crypto market volatility through traditional financial products. Source
