coinbase

A Coinbase-linked address has just received back 187,821,350,592 $SHIB — the exact amount it had gradually sent to an external wallet over the past month — marking a full reversal of inflows totaling $2.17 million at current prices.
The external address, "0xf3f," started collecting #SHİB from Coinbase in early May through a series of regular transactions. The transfers were regular and organized, which makes you think they were either building up or moving money around in-house. But today, the whole balance was returned to #coinbase in one go.
There was no intermediate transfer activity, no splits and no obvious redistribution. It is just a full round-trip to the original #exchange , and now the wallet is holding only $0.012 in leftover tokens.
This comes as the SHIB price quotes near $0.00001177 — a level that has been a kind of support since March. The timing of this is interesting because it coincides with a narrowing of the range and an increase in on-chain activity around this zone. There is nothing to suggest that SHIB tokens are being moved to other exchanges or put into custodial cold wallets. The transaction looks more like a contained, closed-loop movement, which might be linked to internal liquidity tests, temporary collateral deployment or pre-execution of larger transfer strategies.
There has not been any more activity from the sending address after the reversal. Once the transfer is done, the wallet is pretty much as good as new — there are not any new inbound or outbound transactions to worry about. It is not clear if the move was planned by one whale or an internal Coinbase team, but the size and simplicity of the transaction makes it different from normal retail or automated flows.
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KraneShares ETF Aims to Track BTC, ETH, XRP & More
KraneShares Seeks SEC Approval for Coinbase 50 Index
KraneShares, an asset manager specializing in ETFs, is seeking to list a "Coinbase 50 Index ETF" that tracks the 50 largest digital assets by market capitalization. The company filed its registration application with the U.S. Securities and Exchange Commission. Nate Geraci, president of ETF Store, stated on X that he believes there will be a significant surge in applications for crypto Exchange Traded Funds.

Source X
 

The ETF will track the 50 largest digital assets by market cap.
According to the Coinbase 50 Index, this Exchange Traded Fund would track the top 50 crypto currencies by market capitalization. Growing institutional interest in investment products linked to cryptocurrencies is reflected in the filing. Launched in late 2024, the Coinbase 50 is managed by the largest U.S. crypto exchange. The top positions currently consist of 50% Bitcoin, 21% ETH, 9% XRP and 6 Solana. The remaining portion of the index is made up of smaller cryptocurrency. As a result, investors would have diversified exposure to the biggest cryptocurrencies through the Exchange Traded Fund, which would track this same guide. This action shows that traditional financial markets are beginning to accept digital assets.

Source https://www.sec.gov/Archives/edgar/data/2073505/000182912625004735/kraneshares_s1.htm
Institutions Get Ready: Coinbase Index ETF May Be Game-Changer
With the Coinbase 50 Index, KraneShares hopes to attract more investors who are wary of investing in individual cryptocurrencies due to concerns about security, volatility, and regulatory risk. Conventional investors find it easier because the format offers a well-known and regulated investing option. This could encourage more people to adopt and accept cryptocurrency as a valid asset class.  The move reflects the increased institutional demand for digital assets as well as the need for safe and transparent investment solutions in the bitcoin market.The launch of these has the potential to greatly enhance cryptocurrency adoption and mainstream acceptance.
How will the SEC's approval of the KraneShares ETF impact the broader cryptocurrency market and its adoption by mainstream investors?
If the SEC-approves KraneShares ETF has the potential to drive institutional interest in the cryptocurrency space, leading to increased adoption and price appreciation. This can drive increased liquidity, which can lead to improved financial dynamics.The SEC approval can also serve as a beneficial precedent for other crypto-related ETFs, allowing mainstream investors to enjoy a structured and safe investment environment. The diversified strategy of the ETF's, which covers obscure cryptocurrencies, may open up greater use of cryptocurrencies outside of Bitcoin and Ethereum. Previous SEC approvals of Exchange Traded Funds on cryptocurrencies exhibited considerable forces, which resulted in higher asset prices as well as investor interest. Approval may mark a new direction for the cryptocurrency market.

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#bitcoin #KraneShares #coinbase

As Coinbase’s (COIN) stock continues its meteoric rise in 2025, analysts at 10x Research have issued a bold recommendation: short Coinbase shares while simultaneously going long on Bitcoin ($BTC ). This classic “pairs trade” strategy is grounded in the belief that Coinbase has become significantly overvalued relative to the underlying crypto market it serves.
The Core Thesis:
10x Research argues that the current valuation of COIN has run ahead of its fundamentals. While Coinbase has benefited from a renewed bull run in crypto markets, with Bitcoin $BTC trading above $100,000, the firm’s stock price has increased at an even faster rate—amplifying its exposure to speculative investor behavior.
“This is a classic decoupling scenario,” said Markus Thielen, head of research at 10x. “The correlation between Coinbase and Bitcoin is breaking down, with COIN now trading at levels that suggest over-exuberance. In our view, a short COIN/long $BTC trade presents a strong risk-adjusted opportunity.”
Valuation Concerns:
Coinbase market cap has surged past $45 billion, driven by increasing volumes and anticipation around crypto ETFs and institutional adoption. However, 10x Research notes that this rally is fueled more by sentiment than sustainable earnings growth. Coinbase remains heavily reliant on transaction fees, which are volatile and directly linked to speculative activity. Unlike Bitcoin—which is seen as a long-term inflation hedge and store of value—Coinbase is a business with operational risk, regulatory exposure, and revenue dependency on market cycles.
Bitcoin’s Structural Strength:
In contrast, Bitcoin’s current rally is backed by structural tailwinds: increasing adoption, rising institutional interest, macroeconomic instability, and expectations of looser monetary policy. Furthermore, Bitcoin’s recent halving has tightened supply, adding upward pressure on price in the face of growing demand.
10x Research believes that Bitcoin’s upside is still undervalued by traditional markets, especially compared to equity-based crypto plays like Coinbase.
The Trade Mechanics:
The proposed trade involves shorting COIN stock—benefiting from a potential price correction—and going long on BTC, ideally via futures or a spot allocation. This strategy seeks to hedge sector-wide sentiment while exploiting relative mispricing.
“You’re not betting against crypto,” Thielen emphasized. “You’re betting that COIN has outpaced the asset it tracks, and that the correction will happen not to Bitcoin, but to its overbought proxies.”
Risks and Considerations:
This strategy is not without risks. Coinbase could continue to outperform if regulatory clarity improves or if retail investor enthusiasm surges again. Additionally, any sharp downturn in BTC could hurt both sides of the trade. As always, timing and risk management are key.
Conclusion:
10x Research’s short COIN/long BTC call taps into a growing narrative in financial markets: that equities tied to digital assets may not always move in sync with the underlying assets themselves. For sophisticated traders, this divergence presents a unique opportunity to profit—if they can navigate the volatility.
As the crypto market evolves and matures, relative value trades like this could become a staple for investors seeking alpha beyond simple long-only exposure.