JPMorgan Analyst Questions Coinbase's Bitcoin ETF Business Impact Despite Q4 Beat
• JPMorgan analyst criticizes Coinbase's lack of insights into economics of its Bitcoin ETF business • Analyst skeptical of true earnings impact and monetization ability of Coinbase's ETF services • Criticism comes despite Coinbase beating Q4 estimates, sending shares higher • Analyst warns ETF low fees could pull volumes away from Coinbase's spot markets • JPMorgan analyst maintains $95 price target and neutral rating on Coinbase stock