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Why Coinbase Is the Biggest Winner in Ethereum’s 2025 Bull Run (Bernstein Analysis)
Why Coinbase Is the Biggest Winner in Ethereum’s 2025 Bull Run (Bernstein Analysis)
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Ethereum's rally isn't just making crypto traders rich—it's lining Coinbase's pockets faster than a Wall Street bonus round.
Bernstein's latest analysis spotlights the exchange as the prime beneficiary of ETH's surge, with trading fees and staking rewards creating a revenue gusher. No surprise—when crypto moves, centralized platforms take their cut first.
The kicker? While DeFi maximalists rage against the machine, Coinbase quietly dominates institutional ETH flows. Sometimes the house wins even when you're betting on decentralization.
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