Best Cryptocurrency Stocks And ETFs

Coinbase is the largest US-based crypto exchange, and it also earns money from custody, staking, derivatives and its share of interest on USDC reserves. In Q3 2026, it reported $1.16 billion in net revenue, with $590.2 million from transactions and $307 million from stablecoins, according to its Q3 2026 earnings deck.

Why it tracks crypto: trading volume rises when prices move sharply and falls when markets go quiet, and transaction fees are still about half of revenue. Coinbase also held $2.22 billion in crypto for investment, and its Q3 2026 net income of $718.7 million included a $715 million gain on those holdings.

Risks:

• A May 2025 insider data breach, where bribed overseas support staff stole customer data. Coinbase refused a $20 million extortion demand and booked $307 million in related costs in Q2 2025 alone, according to The Block.
• Regulation of its derivatives and prediction-market products.
• Stablecoin revenue falls when interest rates fall.

Coinbase joined the S&P 500 on May 19, 2025, according to S&P Dow Jones Indices. Our Coinbase review covers the exchange itself.

Strategy, renamed from MicroStrategy in February 2025, holds more bitcoin than any other public company: 848,517 BTC as of Oct 25, 2026, bought for $64.02 billion, or about $75,446 per coin, according to its Oct 26, 2026 filing. It still runs a small software business, but bitcoin drives its results.

Why it tracks crypto: Strategy marks its bitcoin to market every quarter. That produced net losses of $14.46 billion in Q1 2026 and $8.32 billion in Q2, then $19.53 billion in net income in Q3, according to its Q3 2026 results.

Risks:

• Strategy funds bitcoin purchases with debt and preferred stock (STRK, STRF, STRD, STRC and STRE). Those securities pay fixed or variable dividends that rank ahead of common shareholders.
• Strategy sold about $431.8 million of bitcoin in 2026 to fund preferred dividends and STRC buybacks, a sign the dividend load is real.
• A special shareholder meeting is pending on changes to the terms of its preferred stock.
• It reports $5.67 billion in long-term debt plus $1.05 billion due within a year.

Circle issues USDC, the second-largest dollar stablecoin, and earns most of its money from interest on the cash and Treasuries backing it. Reserve income was $667.7 million, about 95% of Q2 2026 revenue, according to its Q2 2026 10-Q.

Why it tracks crypto: Circle is tied less to crypto prices than to how much USDC is in circulation and to short-term interest rates. A rate cut lowers Circle's income even if crypto prices rise.

Risks: rate cuts, the $410.4 million a quarter it pays partners like Coinbase to distribute USDC, and leadership change. Its CFO is leaving by December 2026. The GENIUS Act, signed July 18, 2025, set federal rules for stablecoin reserves, according to the White House fact sheet. Read how USDC compares to USDT.

Robinhood is a retail brokerage for stocks, options, crypto and event contracts. Crypto revenue was $120 million in Q3 2026, down 55% from a year earlier and about 8.4% of net revenue, according to its Q3 2026 results. Event contracts brought in more, at $173 million.

Why it tracks crypto: crypto trading still swings revenue, and Robinhood owns the Bitstamp exchange, which handled $29 billion of its $50 billion in Q3 2026 crypto volume. Our Bitstamp review covers that exchange.

Risks: crypto revenue falls fast in quiet markets, and its newer event-contract business faces lawsuits and enforcement threats from several states, which its Q3 2026 10-Q describes.

Bitcoin miners earn new bitcoin by running specialized computers that secure the network. Their revenue depends on the bitcoin price, the total computing power competing for rewards and their power costs. The April 2024 halving cut the reward per block from 6.25 to 3.125 BTC, which squeezed every miner's margins.

• CleanSpark (CLSK): mining was 100% of its $138 million in Q2 2026 revenue, according to its Q2 2026 10-Q, making it the most direct mining exposure here. It's also borrowing to build an AI campus in Sandersville, Georgia.
• MARA Holdings (MARA): sold 15,133 BTC and repurchased $1 billion of convertible notes in March 2026, then agreed in April 2026 to acquire Long Ridge Energy & Power, according to MARA's press releases.
• Riot Platforms (RIOT): held 11,380 BTC and got about 65% of Q2 2026 revenue from mining, according to its 10-Q. It signed a 20-year, 191-megawatt data center lease with an AI lab in August 2026.
• Hut 8 (HUT): consolidates American Bitcoin Corp. (ABTC), a separately listed miner, and carries $7.4 billion in debt tied to its data center buildout.

Several former miners are leaving bitcoin behind. IREN said in its fiscal 2026 10-K that it's decommissioning mining in favor of AI cloud services, with the shift substantially complete by Dec 31, 2026. Cipher Mining renamed itself Cipher Digital in February 2026. Core Scientific stayed independent after its shareholders voted down CoreWeave's takeover on Oct. 30, 2025. These stocks now track AI data center demand as much as bitcoin.

Risks for all miners: bitcoin price drops, rising network difficulty, power costs, heavy debt for new facilities, and the next halving, which the bitcoin protocol schedules for about 2028.

Galaxy Digital runs a crypto trading desk, asset management, and a large data center campus in Texas called Helios, with 133 megawatts delivered to CoreWeave. It reported $323 million in Q3 2026 net income, according to its Q3 2026 release. Its crypto holdings and trading results swing with prices, and it carries about $6.7 billion in notes payable.

Block runs Square and Cash App, and Cash App sells bitcoin to customers. Bitcoin revenue is large, at $1.89 billion in Q2 2026, but the profit on it is small: $72 million, or about 2.3% of total gross profit, according to its Q2 2026 letter. Block also holds bitcoin on its balance sheet, carried at $534 million, and builds mining hardware under the Proto name. Block's stock tracks payments far more than crypto.

CME Group runs the largest US futures exchanges and lists bitcoin and ether futures and options, plus smaller "micro" contracts. It added Solana futures in March 2025 and XRP futures in May 2025, and options on both in October 2025. Crypto is a small slice of CME's business, so its stock barely tracks crypto prices. It shows up here because crypto ETFs and institutions use CME futures to hedge.

Three crypto-focused companies went public in 2025: eToro (ETOR) in May, Bullish (BLSH) in August and Gemini (GEMI) in September. Each has a shorter public track record than Coinbase, so there's less history on how their results hold up through a full down market.