According to BlockBeats, on September 7, British banking giant Barclays upgraded the ratings of Coinbase (COIN) and Robinhood (HOOD) from underweight to hold, citing the two companies’ better business models.
Barclays analyst Benjamin Budish said both companies have “matured significantly,” especially due to expanded products and more positive financial outlooks. Barclays said in the report that Coinbase in particular could benefit from a more friendly regulatory environment, given that both presidential candidates have taken increasingly friendly approaches to the digital asset industry and have received approval for multiple spot cryptocurrency exchange-traded funds (ETFs).
“The factors driving our underweight rating are fading and we now view the risk/reward of both stocks as more balanced,” Barclays said.
