BitcoinWarrior

News and Education

Coinbase Rides The Bitcoin ETF Wave: Why JPMorgan Is No Longer Bearish On Crypto Exchange

Investment bank JPMorgan Chase upgraded its rating on cryptocurrency exchange Coinbase Global Inc. (NASDAQ: COIN) from Underweight to Neutral Thursday, citing the recent surge in Bitcoin (CRYPTO: BTC) prices and the positive impact on Coinbase’s earnings power. The bank maintained an $80 price target on the stock. The Coinbase Takeaways: The upgrade comes in the wake of a significant appreciation in Bitcoin and Ethereum prices, driven in part by the successful launch and adoption of U.S. spot Bitcoin ETFs, analyst Kenneth Worthington said in a note. These ETFs have seen a net $3.9 billion in in…