#Iota coinbase series

Post-Merge, JPMorgan forecasts that Coinbase can realize more than $650 million in annual ETH staking income if and only if Ethereum (ETH) trades around $2000 with a 5% yield rate. This is so because institutions tend to hold more Ethereum (ETH) and Bitcoin (BTC), while retail customers may likely hold other highly speculative tokens. According to Kenneth Worthington, Coinbase’s market share is tilted toward institutions other than retail customers. The bank further disclosed that Coinbase has a 15% market share in Ethereum (ETH) assets.

#Iota coinbase series

“We believe that Coinbase has taken a series of steps to maximize the Ethereum staking revenue opportunity,” Worthington added.

Coinbase is bigger in Ethereum than was intuitive to us, thus leading directly to a bigger revenue opportunity.” Kenneth Worthington, a financial analyst at JPMorgan investment bank wrote in the note to clients “we see Coinbase as a meaningful beneficiary of the Ethereum Merge. The service was introduced by the exchange in early August.īrian Armstrong, the CEO of Coinbase noted that Ethereum (ETH) staking will benefit the company’s business model.

This statement stems from the fact that the widely used crypto exchange recently introduced Ethereum (ETH) staking to institutional clients. Meanwhile, the Merge has been scheduled for September 15.Īccording to a note sent to clients by JPMorgan, the Ethereum transition to proof-of-stake (PoS) will usher in a “bigger revenue opportunity” for the digital assets exchange, Coinbase. Following the introduction of Ethereum staking on the top US-based trading platform Coinbase, JPMorgan, an American transnational investment bank and a global leader in financial services, holds that the top crypto marketplace will be a major beneficiary of the Ethereum Merge upgrade.