Bank of America has joined Goldman Sachs in lifting Coinbase from “neutral” to “buy” this week, citing Coinbase’s lead role in bringing the financial system on-chain and becoming an “everything exchange.”
In a research note released on Thursday, BofA said Coinbase’s expansion from trading to tokenizing real-world assets, including stocks and exchange-traded funds, as well as its move into prediction markets, is positioning it to cross-sell more products to new and future users and lead a “new financial system.”
BofA said Coinbase (COIN) shares could rise around 38% from their current price to reach $340 as short interest in COIN reverses, while the tax-loss harvesting pressure seen in late Q4 is easing.
Extract of BofA’s research note on Coinbase. Source: Matthew SigelOn Monday, investment bank Goldman Sachs also assigned Coinbase a “buy” rating, explaining the recent market pullback had left crypto stocks trading at a discount, potentially setting the stage for a rebound in early 2026.
COIN shares were volatile over the course of 2025
Coinbase has fallen 5.6% over the past 12 months to $245.6, but throughout the year has traded as low as $151.8 and as high as $419.8, amounting to a volatile 176.6% difference between the prices.
COIN’s change in share price over the last month. Source: Google FinanceRelated: Temple Digital Group launches 24/7 institutional trading built on Canton
Base token, Trump will also push COIN this year
BofA is also bullish on Coinbase potentially launching a token for its Ethereum layer-2 network, Base, stating it would raise billions of dollars and incentivize developers and early adopters to build and use more decentralized finance applications onchain.
Another catalyst for Coinbase is US President Donald Trump having three more years in office to push his vision of making the US the crypto capital of the world, BofA noted:
The bank, however, flagged Binance’s potential return to the US market and further crypto price corrections as two obstacles that could limit COIN’s upside in 2026.
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Source: https://cointelegraph.com/news/bank-of-america-upgrades-coinbase-buy?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
