Coinbase Diversifies Crypto Portfolio with Growing Bitcoin Holdings
Coinbase's latest financial report reveals a shift in its digital asset portfolio strategy. Despite the overall value of its crypto holdings declining to $1.47 billion, the exchange increased its Bitcoin (BTC) reserves by 12.5% during the first half of 2026.
The company added 1,922 BTC to its treasury, reaching a total of 17,311 BTC as of June 30. In contrast, its Ethereum (ETH) holdings decreased slightly by 0.6%, from 151,175 ETH at the end of last year to 150,279 ETH.
Coinbase's revenue declined in the second quarter, falling 14% quarter-over-quarter and 19% year-over-year, but it maintained profitability on an adjusted basis with $208 million in Adjusted EBITDA. The exchange also continued expanding beyond trading, with subscription and services revenue reaching $555 million.
Despite its struggles, Coinbase's market share increased to 10.3%, up from 9.1% in the previous quarter. However, August has historically been a challenging month for the company, with significant declines in stock value in past years.