Source: Coinbase, As of: Mai 2025Strategic Acquisition<\/h3>\n The situation has since calmed, and the industry\u2019s largest crypto asset, Bitcoin, has even regained six-digit territory. Coinbase stock has followed suit, boosted further by its inclusion in the S&P 500. Additional momentum for the core business is expected from the USD 2.9 billion acquisition of Deribit in early May. The purchase of the derivatives exchange will not only expand the investor base but also give Coinbase a foothold in markets outside the U.S. \u2014 especially in Asia and Europe, where leveraged trading is more widespread. Deribit is the world\u2019s largest trading platform for Bitcoin and Ether options and reached a trading volume of USD 1.2 trillion last year.<\/p>\n\n
Experts believe consolidation in the crypto market may continue. After all, companies want to be well-positioned to benefit from President Trump\u2019s stated goal of making the U.S. the global hub for cryptocurrencies. Despite the enthusiasm, prices in this sector are not rising in a straight line \u2014 high volatility continues to define this young industry. Coinbase stock has a historical 12-month volatility of 69.5%, compared to 16.1% for the S&P 500.<\/p>\n\n
Hacker Attacks as a Risk Factor<\/h3>\n The high volatility also stems from the inherent risks of the crypto business \u2014 amely, cybercrime. Just days ago, it was revealed that Coinbase suffered damages of between USD 180 to 400 million due to a cyberattack. The company stated that account data of a \u201csmall group\u201d of customers was stolen. To prevent such attacks in the future, Coinbase is opening a new support center in the U.S. and announcing additional security measures. Hacker attacks are not uncommon in the industry. According to a report by Chainalysis, total funds stolen from crypto platforms in 2024 amounted to USD 2.2 billion.<\/p>\n\n
Yield Optimization with a Safety Net<\/h3>\n Those who don\u2019t own cryptocurrencies directly but instead invest through structured products are not exposed to this kind of cyber risk. Two new soft-callable Barrier Reverse Convertibles (BRCs) from Leonteq offer an attractive way to invest in Coinbase. With a maximum term of one year, these products promise double-digit returns even if the stock merely stagnates or declines slightly. The coupons are an appealing 13.20% p.a. for the CHF version and 19.20% p.a. for the USD version. Unlike classic BRC structures, interest payments here are not guaranteed every quarter. For a partial coupon to be paid, the Coinbase stock must be above the coupon trigger level on each quarterly observation date. However, this threshold is set at a reassuringly low 50% of the initial price. If a coupon payment is missed, it is not lost but can be recovered thanks to the memory function\u2014provided the stock exceeds the trigger level on a future observation date. If the barrier is breached, the final fixing determines the return. If the stock ends below the strike level, losses may occur. If it finishes at or above the strike, the full principal is repaid. Note: Every three months \u2014 but no earlier than six months \u2014 the issuer has the right to call both BRCs early at 100%.<\/p>\n\n
Chasing Outsize Gains<\/h3>\n While BRCs offer a relatively conservative way to invest in Coinbase, leverage products allow for more speculative strategies. Leonteq\u2019s broad offering includes mini-futures and knock-out warrants on the crypto exchange, which allow for disproportionate participation. Both long and short positions are available. With this combination of leverage products and BRCs, profits can be achieved in all three market phases: rising, sideways, and falling.<\/p>\n\n\n
Callable Single Barrier Reverse Convertible with conditional coupon<\/h3>\n \n \n
\n <\/SavedSearch>\n <\/div>\n\n\n\nSwiss Federal Income Tax<\/td>\n For private investors with tax domicile in Switzerland holding the Product as part of their private property, gains realised during the term of the Product and on the Redemption Date qualify as capital gains and are therefore not subject to the Federal Direct Tax. The tax information provided herein is a non-binding summary and only provides a general overview of the potential Swiss tax consequences linked to this Product at the time of issue. Tax laws and tax interpretation may change at any time, possibly with retroactive effect.