In a new report, Bernstein reaffirmed its “outperform” rating for both companies, citing strong fundamentals and rising investor engagement.
Robinhood impressed with its second-quarter results, particularly in crypto. Trading volumes hit a six-month high in July, boosted by renewed interest in Ethereum, Solana, and DeFi tokens following Circle’s new listings. Bernstein expects this momentum to grow throughout the second half of 2025.
Coinbase also earned praise for its deepening ties with traditional finance. The report highlighted its strategic partnership with JPMorgan Chase as a major driver of crypto adoption—marking a notable shift from the bank’s earlier skepticism toward digital assets.
Bernstein concluded that the combination of rising volatility, expanding crypto offerings, and increased institutional involvement supports the view that the market cycle is still in its early stages. The firm advised investors to stay the course, adding that there’s “no need for any action for now.”
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