Coinbase (COIN) opened up stock and exchange-traded funds (ETF) to all US customers, expanding beyond digital assets as part of its plan to become an “everything exchange.”
The rollout allows users to buy and sell US-listed stocks and ETFs on the same platform they use for crypto. Trading takes place 24 hours a day, five days a week, without commission. Clients can fund trades with US dollars or USDC and buy fractional shares from $1.
Coinbase outlined the expansion in December when it said it intended to bring multiple asset classes under one roof. Earlier this month, it launched a prediction market that allowed users to trade the outcomes of real-world events. Stock trading marks another step in that strategy.
The move puts Coinbase in more direct competition with retail brokerages such as Robinhood ( HOOD ), which has doubled its crypto product suite. It also reflects a push among crypto firms to blend the asset class with traditional financial products. Breaking away from a crypto-only business model could help Coinbase loosen the bond between its share price and bitcoin so it trades more like a diversified tech stock that offers some cushion during a crypto downturn.
Both COIN and HOOD have lost around 35% this year as digital assets struggle. EToro (ETOR) is 13% lower over the same period, with the company’s fourth quarter earnings showing strong share trading on the platform.
To support the introduction, Coinbase has an agreement with Yahoo Finance. The financial news page will include a button that lets users go from researching a stock to executing a trade on the stock exchange. Yahoo Finance will also display real-time data from Coinbase in its interface.
Coinbase said it is working with Apex Fintech Solutions for custody clearing and execution.
The company plans to expand 24/5 trading to more stocks in the coming months. It has also signaled interest in offering tokenized shares, which would allow shares to move on blockchain networks and potentially trade around the clock.
