Coinbase Revenue to Trough in 2026, Trading Volume to Rebound in 2027
Coinbase's (COIN) revenue is expected to decline in 2026, according to William Blair. The financial services firm anticipates COIN's earnings to reach a trough by late 2026 and trading volume to decrease by approximately 44% that year. However, it predicts a significant rebound in 2027 with trading volume up more than 32%. Additionally, retail derivatives revenue is expected to surpass $200 million on an annualized basis.
Coinbase has been expanding its platform beyond cryptocurrency to include stocks and options. The company recently added tokenized stocks, allowing non-US users to invest in major stocks, indexes, and ETFs. These tokens carry dividends and voting rights and can be used as collateral for on-chain loans on platforms like Aave.
Coinbase has also introduced a new feature that aggregates customer IPO orders via Apex Clearing. The company will act as an agent, not underwriter, and enforce a 30-day selling hold on allocated IPO shares. Repeat sellers may face penalties for early resale.