Coinbase shares jumped 5.9% on Monday after heavy trading volumes and renewed institutional inflows boosted the crypto market, according to Google Finance data. The total value of all cryptocurrencies climbed 2.5% to $3.86 trillion, led by Bitcoin reclaiming $113,000 and Ethereum rising nearly 3%.
Adding to the momentum, BlackRock deposited about $206 million worth of Ethereum and $38 million in Bitcoin into Coinbase Prime, signaling strong institutional activity. SEC Commissioner Hester Peirce noted that the U.S. is entering “a more constructive era for digital assets.” Meanwhile, the Federal Reserve restarted its rate-cut cycle, fueling appetite for risk assets like cryptocurrencies and related stocks.
Despite the optimism, Coinbase remains highly volatile. Over the past year, the stock has seen 59 swings larger than 5%. Just last week, it fell 2.8% after a sudden wave of forced selling erased $77 billion from the crypto market, with $1.7 billion in leveraged positions liquidated and more than 400,000 traders affected. That crash saw Bitcoin dip below a key support level, dragging down other tokens and crypto-linked equities.
Coinbase Stock Mirrors Crypto’s Moves
The latest price action highlights how tightly Coinbase tracks the broader crypto market. As soon as Bitcoin stumbled, nearly all sector-linked stocks fell in tandem, according to Cryptopolitan. Despite today’s rebound, Coinbase shares remain 28.4% higher year-to-date, trading at $330.23. Still, that’s 21.3% below the 52-week peak of $419.78 set in July 2025.
For long-term investors, the picture looks more modest. A $1,000 investment at Coinbase’s April 2021 IPO would now be worth around $1,006.
Meanwhile, a major shift is unfolding in the Bitcoin options market. BlackRock’s iShares Bitcoin Trust (IBIT) has overtaken Deribit, Coinbase’s long-dominant platform, as the largest venue for these contracts. After Friday’s expiry, open interest in IBIT options stood at about $38 billion, compared with $32 billion on Deribit. The milestone is striking since Deribit has led the space since its 2016 launch, while IBIT options only began trading in November last year.
With $84 billion in assets, IBIT is already the biggest Bitcoin ETF. Its rapid options growth has created a self-reinforcing cycle of higher liquidity and stronger inflows, further cementing its dominance.
