Bitcoin's surge above $100,000 has put the spotlight on Coinbase stock and the YieldMax COIN Option Income Strategy (CONY) ETF. CONY has seen a 37% decline this year, while COIN has seen a 90% increase. The ongoing Bitcoin price surge is expected to be the main catalyst for these investments. Coinbase and other crypto-related companies perform well during strong uptrends in Bitcoin, as it drives up trading volumes. Recent data shows that both centralized and decentralized exchanges have experienced higher volumes, which is beneficial for Coinbase. Despite losing market share to competitors, Coinbase's recent results have shown positive performance, with revenue reaching $1.2 billion and net income at around $75 million. Coinbase's expansion into other areas, such as its subscription and services revenue, stablecoin revenue, and custody business, has also contributed to its success. Additionally, Coinbase holds 9,480 Bitcoins in its balance sheet, valued at over $976 million. Investors interested in Coinbase can choose to invest directly in the stock or opt for the CONY ETF, which generates dividends through covered calls. While the Coinbase stock price has risen 134% in the past year, the CONY ETF has dropped by 30.5%. However, when considering total returns, including dividends, the CONY ETF has had a return of 94% compared to COIN's 134%. Based on this data, it suggests that investing in Coinbase stock may be more favorable than the CONY ETF. Similar covered call ETF funds, such as JEPI and JEPQ, have also underperformed major indices.



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