Coinbase Will Be ‘Meaningful’ Beneficiary of Ethereum Merge, JPMorgan Says

From coindesk.com

Crypto exchange Coinbase (COIN) is positioned to benefit from the Ethereum Merge as institutional and retail clients get value from staking ether (ETH), JPMorgan analyst Kenneth Worthington told clients in a note. JPMorgan estimates that Coinbase has a 15% market share in ETH assets, which trumps its 7% share of the overall crypto ecosystem. Worthington says Coinbase’s market share is probably tilted toward institutions, which are more likely to own ETH and bitcoin (BTC), whereas retail customers may “traffic more in the more speculative tokens.” The bank further estimates that Coinbase can generate an ... (full story)