Coinbase App Slips from Highs Amid Bitcoin ETF Buzz

Coinbase’s app is back to where it was before the craze over spot bitcoin ETFs that peaked over the previous two months, after rocketing up the ranks among finance apps on Apple’s App Store in December. 

On December 1, 2023, Coinbase’s app was ranked 49th in the App Store for Finance iPhone apps; however, on December 25, it had risen to the 16th position. As of January 30, the app has retreated to 43rd place. 

On the Apple App Store, Coinbase’s popularity is steadily declining. Qureshi disclosed in a post on X that Coinbase is presently ranked forty-first in the Apple App Store’s finance category. 

He contrasts this with its situation from just three years ago when the app not only took the top spot but held it for several days in a row. He stated, “In 2021, it was continuously ranked #1 in Finance, and on several days, was #1 across the entire App Store.”

In December 2023 and early January, there was a noticeable surge in anticipation for the first-ever spot Bitcoin ETF approval in the United States, which coincided with a bull run on cryptocurrency prices. Since the Securities and Exchange Commission approved 11 spot bitcoin ETFs on January 10, the market has somewhat calmed down. 

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2024-01-30 23:00