Coinbase Faces Risks from Bitcoin ETFs, Legal Disputes and Cautious Analysts
• Launch of Bitcoin ETFs could hurt Coinbase's volumes and margins as investors may opt for ETF exposure over direct crypto ownership
• SEC recently approved Bitcoin ETFs, potentially expanding retail investors' access and boosting adoption
• Analyst Michael Elliot downgraded Coinbase stock due to concerns that Bitcoin ETFs may lead investors to alternative platforms
• Coinbase faces legal dispute with SEC, which claims Coinbase was running crypto asset platform without proper registration
• Despite 152% stock gain in past year, analysts cautious on Coinbase with Hold consensus rating and price target showing downside risk