It's that time again
Coinbase results tomorrow (and unlike Robinhood they do actually disclose ETH holdings)
150,279 ETH held at Q2
4,366 ETH earned during Q3
The question is: are they over or under 154,645 ETH?
As expected, Coinbase sold 100% of their sequencer fees and ETH holdings are flat at 150k
All the while they added over $50M of BTC
The strategy is clear, and unfortunately it is not a winning one: it is a big missed opportunity