Coinbase Shares Surge 4.28% as Tokenized Stock Launch Adds $2 Billion in Value

Coinbase shares closed 4.28% higher at $187.16 on August 25, adding an estimated $2.03 billion in quoted equity value.

The jump follows Base's launch of tokenized U.S. stocks for eligible non-U.S. users. The new service allows investors to buy and sell tokens backed one-for-one by shares held with a regulated custodian.

The initial scope is narrow, with only four tokenized shares available: Nvidia (NVDA), Meta Platforms (META), Apple (AAPL), and Alphabet (GOOGL). Trading is available 24/7 in eligible non-U.S. jurisdictions, but U.S. investors cannot buy the tokens under current regulations.

While the launch matters for Coinbase's revenue potential, analysts remain cautious. The stock still carries a richer earnings valuation than exchange peers, and experts see limited near-term upside.