Rothschild Upgrades Coinbase Amid Growing Crypto Adoption

San Francisco, CA – October 3, 2025 – Rothschild & Co Redburn announced today it has upgraded Coinbase Global Inc. from a ‘Neutral’ to a ‘Buy’ rating, increasing its price target from $325 to $417. This upgrade indicates a potential upside of 12.1% based on Thursday’s closing price.

Analyst Nicholas Watts highlighted the growing institutional interest in cryptocurrencies as a key factor behind the upgrade. ‘The evolving digital asset landscape holds significant opportunities and risks for investors,’ he said in a note to clients. ‘Coinbase is a well-balanced play on broader digital asset adoption.’

Coinbase’s stock surged shortly after the announcement, gaining 2.59% to $381.80, bolstered further by a partnership with Samsung that integrates Coinbase services into 75 million Galaxy devices. This partnership allows users to access crypto trading features directly through Samsung Pay.

Watts pointed out that Coinbase’s revenue is diversifying, moving away from reliance on retail transaction fees, which are expected to drop from 90% to nearly 50% next year. Increased trading from institutional clients is expected to offset lower retail fees, boosting revenue from subscription and service offerings.

Despite a competitive landscape in crypto trading, Watts believes Coinbase will maintain its lead. ‘The resilience of Coinbase’s retail take rate has surprised the market,’ he noted, as it has averaged 1.5%. The firm’s bullish outlook aligns with a majority of Wall Street analysts, where 18 of 36 recommend buying the stock.

Rothschild’s upgrade comes at a time when institutional interest in cryptocurrencies has been rising, especially following the recent approval of spot Bitcoin and ether exchange-traded funds in the U.S. This, combined with the ongoing integration of digital assets into traditional financial services, bodes well for Coinbase.

Coinbase’s shift towards offering more comprehensive financial services and fostering institutional trust could alter the landscape of cryptocurrency investments. With notable trading activity surrounding its stock, this upgrade signifies confidence in Coinbase’s future as an integral player in the financial sector.