According to CoinDesk, British banking giant Barclays has raised the ratings of cryptocurrency exchange Coinbase (COIN) and online brokerage Robinhood (HOOD) from "underweight" to "neutral", citing that the two companies have better business models. Barclays analyst Benjamin Budish believes that both companies have "significantly matured", particularly due to their product expansion and more positive financial outlook.

Barclays' report points out that, given the increasingly friendly stance of both US presidential candidates towards the digital asset industry and the approval of multiple cryptocurrency spot exchange traded funds (ETFs), Coinbase can particularly benefit from a more favorable regulatory environment. The analyst wrote:

Although we still see risks facing Coinbase, we believe that the improved environment, profit and loss situation, gradual and sustained diversification, clear industry leadership position in the United States, and recent stock price performance all point to a more balanced risk/reward, so we have adjusted it to 'neutral'

The report points out that although the cryptocurrency industry has experienced many challenges in the past two years, Coinbase has continued to demonstrate resilience. Budish praised the company for effectively maintaining low costs, especially those related to employees, despite the growth in activities in 2024. He also mentioned the diversification of Coinbase's revenue sources, although most of the revenue still relies mainly on transaction fees and interest income, the exchange has begun to see other areas of business becoming meaningful sources of contribution, including in memory blockchain rewards, custody income, and other transaction fees.

However, analysts warn that although many things about Coinbase seem to be moving in the right direction, there is still uncertainty in the field, including a broader macroeconomic environment and unclear regulation, involving whether several assets belong to securities, and the Securities and Exchange Commission's (SEC) unresolved lawsuit against Coinbase.

The analyst also believes that there is a similar positive development in Robinhood's business model, which may bring about future upside potential. The main factors for his positive stance include new products, Robinhood's expansion in the UK and Europe, and the acquisition of new potential customers from Bitstamp.

Barclays said, "The factors that prompted us to make a downgrade rating are gradually improving, and we now believe that the risk/return ratio of these two stocks is more balanced

(责任编辑：基金专题)

• ·比特币巨额押注：交易员豪赌 10 亿美元，押注 BTC 持续上涨
• ·10月31日申万菱信乐享混合净值增长1.26%，近3个月累计上涨20.2%
• ·区块链大行情
• ·king什么币-king是什么币
• ·2025年全球比特币十大矿池最新排名
• ·10月31日前海联合泓鑫混合C净值下跌0.30%，近1个月累计下跌2.19%
• ·瑞波币xrp行情
• ·10月31日广发双擎升级混合C净值增长1.86%，近3个月累计上涨28.02%
• ·Magic Eden 与 Spark 合作，提供快速、廉价的比特币结算
• ·10月31日北信瑞丰量化优选灵活配置净值下跌0.28%，近1个月累计上涨0.55%
• ·hpy数字货币价格
• ·平安保险是什么意思？让我来为您详细解答。
• ·AMA 回顾：市场见顶 or 爆发前夕？2024 年下半年加密走势大揭秘！
• ·10月31日富国红利混合A净值下跌0.18%，近1个月累计下跌4.27%
• ·比特币资料行情网站
• ·10月31日上银新兴价值成长混合净值下跌0.30%，近1个月累计下跌4.52%