This paper investigates the potential of utilizing ChatGPT (GPT-4) as a tool for supporting coding processes for Quantitative Ethnography research. We compare the use of ChatGPT and nCoder, the most widely used automated coding tool in the QE community, on a dataset of press releases and public addresses delivered by governmental leaders from seven countries from late February to late March 2020. The study assesses the accuracy of the automated coding procedures between the two tools, and the role that ChatGPT's explanations of its coding decisions can play in improving the consistency and construct validity of human-generated codes. Results suggest that both ChatGPT and nCoder have advantages and disadvantages depending on the context, nature of the data, and researchers' goals. While nCoder is useful for straightforward coding schemes represented through regular expressions, ChatGPT can better capture a variety of language structures. ChatGPT's ability to provide explanations for its decisions can also help enhance construct validity, identify ambiguity in code definitions, and assist human coders in achieving high interrater reliability. Although we identify limitations of ChatGPT in coding constructs open to human interpretations and encompassing multiple concepts, we highlight opportunities and potential benefits provided by ChatGPT as a tool to support human researchers in their coding process.