Coinbase app declines in App Store ranking after December surge

Companies • January 30, 2024, 12:44PM EST
Published 1 minute earlier on
The Block

Quick Take

  • Coinbase’s app ranking among iPhone finance apps hit a recent high of 16th place on Dec. 25, 2023. 
  • It’s since fallen back down to 46th spot, near where it was before the spot bitcoin ETF craze of the last two months. 

After surging up in ranking among finance apps on Apple's App Store in December, Coinbase's app is back near where it started before a frenzy of excitement about spot bitcoin ETFs that peaked over the past two months. 

Coinbase's app stood in the 49th spot in the App Store for Finance iPhone apps on Dec. 1, 2023, before climbing to the 16th slot on Dec. 25. Now the app has fallen back down to 43rd place on as of Jan. 30, according to data compiled by The Block. 

Spot bitcoin ETFs

"In the wake of the drawdown in crypto asset prices and also the new venues that retail traders can now get exposure to crypto without leaving their primary brokerage, it is not so surprising that we'd seen Coinbase's app popularity begin to slip," said The Block Senior Research Analyst Rebecca Stevens. 

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Anticipation for the first ever spot bitcoin ETF approval in the U.S. experienced a palpable uptick in December 2023 and early January, coinciding with a bull run on cryptocurrency prices.  

The market has since cooled off a tad after the Securities and Exchange Commission approved 11 spot bitcoin ETFs on Jan. 10. 


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© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.

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