Coinbase Global (COIN +0.78%) is a classic “picks-and-shovels” player benefiting from the rapid institutional adoption of cryptocurrencies. The company acts as a primary custodian for the majority of U.S. spot Bitcoin and Ethereum exchange-traded funds (ETFs), generating recurring and sticky custody revenues that grow as more money flows into these products.
That positioning can become even more advantageous for Coinbase as the regulatory landscape for cryptocurrencies improves, thereby further encouraging institutional participation. In the U.S., lawmakers are preparing key hearings and votes for January 2026 to decide clearer rules…
