Coinbase increased its cryptocurrency holdings while reporting strong earnings growth during Q3 of 2025. CEO Brian Armstrong confirmed that the company purchased 2,772 Bitcoin during that period. Jesse Pollak, Base's lead, said that the major U.S. exchange also added 11,933 Ethereum. Pollak wrote, "And we keep buying more."
For the quarter, Coinbase reported $433 million in net income, up from $75.5 million a year earlier. Transaction revenue increased to $1.05 billion, up from $573 million. The increase came as market volatility led to higher trading activity.
As of the end of September, Coinbase’s Bitcoin holdings reached 14,548 BTC, worth around $299 million.
Armstrong said the company is expanding beyond exchange operations. It is developing prediction markets, tokenized equities and other financial products that will operate through a single user interface. The goal is to create a unified financial platform connecting traditional and blockchain assets.
COIN stock up on premarket
Despite the higher profit, Coinbase stock fell 5.77% after the earnings report, closing at $328.51. This decline reflects investor caution about the company’s dependence on trading volumes. The next day, today, in premarket trading, COIN shares rose about 5%, as it seems analysts reviewed detailed financial statements.
Coinbase is still primarily perceived as a platform whose performance depends on crypto market conditions.
However, the company’s growing holdings in Bitcoin and Ethereum suggest a shift toward maintaining direct exposure to digital assets rather than just providing services to customers. In this light, Pollak’s statement confirmed that Coinbase is continuing to add to its own reserves.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team