I recommend you to use non custodial wallet for further BTC storage because coinbase wallet is web wallet and doesn't share the private keys with you so you can't access the funds without their permission.
Note that there are two different coinbase wallets. One of them is non-custodial and gives you a seed phrase and the other one is custodial.
I guess OP is referring to the non-custodial coinbase wallet here. If that's the case, he/she should be able to spend the fund once the receiving transaction gets one confirmation. It's also possible to import the wallet to electrum and spend the fund even when the receiving transaction is still unconfirmed.