XRP made up 13% of Coinbase’s Q2 2025 trading revenue, ahead of Ethereum’s 12% share.
Coinbase holds $1.3 billion in Bitcoin, maintaining its position among the top corporate BTC holders.
Stablecoin revenue at Coinbase grew 44% year-to-date despite recent interest rate cuts by the Federal Reserve.
Coinbase’s latest earnings report revealed that XRP accounted for a larger portion of the exchange’s Q2 2025 trading revenue than Ethereum. XRP contributed 13% to the platform’s transaction revenue, surpassing Ethereum’s 12% share. Bitcoin remained the top contributor with a 34% share of the total.
XRP showed an even stronger performance over the six months. The token made up 16% of Coinbase’s half-year transaction revenue, while Ethereum accounted for 11%. In contrast, XRP’s contribution last year was not high enough to be reported. The growth highlights a sharp increase in XRP trading activity on the platform.
Relisting of XRP Boosted Its Activity
Coinbase resumed XRP trading in July 2023 after halting it in early 2021 due to the SEC’s lawsuit against Ripple. Since relisting, XRP has seen increasing interest from traders. Its revenue growth reflects the broader market response to the token’s return to major exchanges and developments in the Ripple legal case.
https://twitter.com/RasterlyRock/status/1951022434225893657
Coinbase reported holding $1.3 billion worth of Bitcoin in its corporate treasury. This places the company among the top ten institutional holders, along with firms like Riot Platforms and Metaplanet. Ethereum is the second-largest holding with $300 million. Other digital assets make up $200 million of the holdings.
Coinbase also reported a 44% year-to-date increase in stablecoin revenue. This growth came despite the Federal Reserve implementing 100 basis points in rate cuts. The increase suggests stablecoin usage remains strong across the platform’s services.
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