What smart money is saying about Coinbase Global, Inc.
3 funds in our archive have pitched Coinbase Global, Inc., most recently Aristotle Core Equity in December 2025.
Coinbase Global, Inc. provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment. The company was founded in 2012 and is based in Wilmington, Delaware.
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Position history
Between Q3 2025 and Q3 2026, 3 fund letters reported a position in Coinbase Global, Inc., with 1 buy (opened or added).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 1 | 0 | 0 | 0 |
| Q2 2026 | 1 | 0 | 0 | 0 |
| Q4 2025 | 0 | 0 | 0 | 2 |
| Q3 2025 | 1 | 1 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 3 positions · 1 move
- HoldsAcatisSeptember 2026
“Coinbase also did really well in the se- cond half of August. This position has only been in the portfolio for a few weeks.”
Coinbase Global, Inc. - June 2026
“Bottom contributors to performance for the quarter included Chinese AI model company MiniMax, Chinese platform company Tencent, Chinese Internet leader Alibaba, US-based stablecoin issuer Circle Internet Group, and US-based fintech provider Coinbase. MiniMax declined due to concerns about increasing competition among Chinese large language model (LLM) players after DeepSeek launched its latest model at a low token price, even as the company continued to see strong token demand and revenue ramp up. Tencent declined as investors debated the company’s AI positioning and the potential need to accelerate investments, despite progress in both agent ecosystem adoption and foundational model investment. Alibaba declined as concerns about e-commerce weakness and investment-related cash flow pressure overwhelmed optimism about the company’s AI and cloud businesses. Circle declined due to emerging stablecoin competition, digital asset market weakness, and limited progress on the CLARITY Act. Coinbase also declined due to digital asset prices and legislative dynamics, even as it executes on new revenue streams.”
Coinbase Global, Inc. - New positionAristotle Large Cap Growth EquitySeptember 2025
“Buys Coinbase Global”
Coinbase Global, Inc.
Also mentioned · 6
These funds discuss Coinbase Global, Inc. as a competitor, benchmark or comparable, without disclosing a position in it.
- September 2026
“Over the last few years, we have observed a number of stocks on multiple occasions with meaningful weight in the Russell Midcap® Value Index that bear little resemblance to the classic value businesses we have bought and sold over time. Recent examples include Robinhood Markets, Inc. (HOOD), Strategy Inc (MSTR) (formerly MicroStrategy Inc.), Coinbase Global, Inc. (COIN), Western Digital Corporation (WDC), and Sandisk Corporation (SNDK), among others.”
Coinbase Global, Inc. - July 2026
“Visa’s shares are -1% (in GBP) since the start of the year, recovering from a -16% peak-to-trough drawdown, and responding to anxiety in four areas: • Agentic commerce as a disintermediation threat. If autonomous agents are to execute purchases, critics argue the card credential becomes one option among many. Google, OpenAI/Stripe, and Coinbase are all developing agent-native protocols that could theoretically route transactions outside card networks entirely.”
Coinbase Global, Inc. - MentionedHamlin Capital Management Equity and High Yield Municipal Bond StrategiesJune 2026
“Sentiment was further damaged by the CFTC’s approval of perpetual futures, or “perps,” for Kalshi and Coinbase.”
Coinbase Global, Inc. - MentionedManole CapitalDecember 2025
“Predictive Markets: If you want to “place some action” on a college football game or an NFL team, you can do so legally in 38 states through online sportsbooks such as DraftKings, FanDuel, or Hard Rock. But what if you want to “express your opinion” on who becomes the next head of the Fed? In that case, you can now do so through familiar financial platforms such as Robinhood, Coinbase, SoFi, Webull, and others.”
Coinbase Global, Inc. - MentionedKinsman OakJune 2025
Named in a table in Kinsman Oak’s letter.
Coinbase Global, Inc. - MentionedNinepointJune 2025
“Growing Demand for Cryptoassets So far, in 2025, we’ve seen rapid, large-scale adoption of crypto, AI and other emerging technologies by institutional players. Asset managers like BlackRock, Fidelity and Apollo are tokenizing real-world assets on public blockchains; major banks are developing stablecoins; and payment giants like Visa and PayPal are expanding crypto access. Looking ahead into the second half of the year, we expect institutional buy-in to continue. BlackRock now includes a 1%–2% Bitcoin allocation in its $150 billion model portfolios7, with Fidelity8 and VanEck9 recommending even higher exposures. A recent study by Coinbase and EY-Parthenon revealed that 86% of institutional investors are already exposed to crypto or plan to be by year-end10.”
Coinbase Global, Inc.
Fund coverage · 3 theses
- Aristotle Core EquityDecember 2025
Coinbase Global is the leading U.S. crypto exchange with strong compliance and security, expanding into derivatives and abroad while shifting toward recurring revenues amid improving regulatory clarity.
Read the full thesis - Patient Capital ManagementDecember 2025
Coinbase is evolving into a broader financial exchange with expanding products that diversify revenues and enhance long-term earnings power.
Read the full thesis - Aristotle Large Cap Growth EquitySeptember 2025
Coinbase Global is the leading U.S. cryptocurrency exchange, boasting over 65% of trading volume due to its strong focus on compliance, security, and diverse revenue streams, making it a dominant player in the market.
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