Coinbase Rockets 43% in June – Crushes S&P 500 as Regulatory Wins & Mega Partnerships Fuel Rally
Wall Street’s crypto skeptics got a brutal reality check this June as Coinbase stock defied gravity—soaring 43% while legacy finance yawned through another quarter of single-digit gains.
Regulation wins = market confidence
The exchange’s legal victories against the SEC and strategic partnerships with BlackRock and Visa gave institutional investors the green light. Suddenly, the ‘uninvestable’ asset became unavoidable.
When the suits join the degens
TradFi giants finally acknowledged what retail knew for years—when Coinbase thrives, crypto’s infrastructure solidifies. Even Jamie Dimon’s interns started fomo-buying.
The lesson? In markets, ‘irrational exuberance’ is just a term losers use to explain why they missed the train. Again.
Analysts Say Coinbase’s Fundamentals Are Now Undeniable
Oppenheimer analyst Owen Lau told CNBC that two major concerns — fee compression and regulatory headwinds — have been overblown. “Coinbase has been generating positive earnings consistently, which is why they were included in the S&P 500,” Lau said, adding that stablecoin regulation via the GENIUS Act has reduced a critical source of uncertainty.
The act establishes a federal framework for dollar-pegged stablecoins and grants new authority to the Treasury Department. Analysts expect this to create new growth avenues for firms like Coinbase that are already embedded in the stablecoin ecosystem.
Coinbase’s close relationship with Circle, the issuer of USDC, adds even more value. Citizens’ head of fintech research Devin Ryan noted that Coinbase earns 100% of the revenue from USDC held on its platform and about 50% of all other USDC revenue — representing 99% of Circle’s business. “If the market is bullish on Circle, then Coinbase offers indirect exposure without the same operational costs,” Ryan said.
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Coinbase’s growth is not just regulatory — the company has been expanding its services aggressively. June saw the rollout of a crypto-backed credit card with American Express, a stablecoin payment solution for e-commerce, and a partnership with Shopify. Additionally, JPMorgan announced a new “deposit token” on Coinbase’s Base network, showing rising confidence among traditional finance giants.
“There’s a sentiment trade unfolding,” Ryan explained. “Institutional investors are now looking at crypto as a maturing asset class. Coinbase is the most direct way to invest in that evolution.”
