Barclays analysts upgrade Coinbase and Robinhood stock ratings

ChainCatcher news, according to Coindesk, British banking giant Barclays has upgraded the ratings of Coinbase (COIN) and Robinhood (HOOD) from underweight to equal weight, citing that the business models of these two companies are better.

Barclays analyst Benjamin Budish stated that both companies have "significantly matured," especially due to the rich expansion of products and a more positive financial outlook. Given that both presidential candidates have taken an increasingly friendly stance toward the digital asset industry, and several spot ETFs have already been approved, Coinbase, in particular, stands to benefit from a more favorable regulatory environment.