Coinbase Is Long Ethereum, Says Key Base Developer, But There’s a Catch

Coinbase increased its cryptocurrency holdings as it reported strong earnings growth during Q3 2025. CEO Brian Armstrong confirmed that the company acquired 2,772 Bitcoin during that period. Jesse Pollak, the head of Base, said that the major exchange of the United States 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. Revenue from the transaction rose to $1.05 billion, from $573 million. The increase came as market volatility led to higher trading activity.

From the end of September, Coinbase Bitcoin Activity reached 14,548 BTC, worth about $299 million.

Armstrong said the company is expanding beyond exchange operations. It develops prediction markets, tokenized stocks and other financial products that operate through a single user interface. The goal is to create a unified financial platform that connects traditional and blockchain assets.

COIN stock in premarket

Despite the higher profit, Coinbase The stock fell 5.77% after the earnings report, closing at $328.51. This decrease reflects the caution of investors about the company’s dependence on trading volumes. The next day, today, in premarket trading, COIN shares rose about 5%, as it appears that analysts have reviewed the detailed financial statements.

Coinbase is still primarily perceived as a platform whose performance depends on the conditions of the crypto market.

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However, the company’s growth in Bitcoin and Ethereum suggest a shift towards maintaining direct exposure to digital assets rather than just providing services to clients. In this light, Pollak’s statement confirmed that Coinbase continues to add to its reserves.