Coinbase Rises to 18th in U.S. Equity Trading Volume as Deribit Acquisition Strengthens Crypto Derivatives Leadership

On August 18, 2025, Coinbase Global (COIN) rose 1.00% with a trading volume of $2.8 billion, ranking 18th in the U.S. equity market. The exchange’s strategic acquisition of Deribit for $2.9 billion solidified its dominance in crypto derivatives, a segment critical for scaling institutional capabilities and diversifying revenue beyond spot trading. Deribit’s $60 billion in open interest and $1 trillion in annualized trading volume position Coinbase to capture high-margin derivatives growth, enhancing its competitive edge against rivals like Binance and OKX.

A partnership with PNC Financial Services Group further underscores Coinbase’s integration into traditional banking systems. PNC will offer crypto services to its clients via Coinbase’s infrastructure, enabling users to buy, sell, and hold digital assets through their accounts. This collaboration reflects broader regulatory shifts under the Trump administration, which have eased barriers between crypto and traditional finance, accelerating adoption among institutional and retail investors.

The backtested strategy of buying the top 500 stocks by daily trading volume and holding for one day from 2022 to 2025 yielded a 1-day return of 0.98% and a cumulative gain of 31.52% over 365 days. This highlights short-term momentum potential but also underscores market volatility risks inherent in timing-based strategies.