Bank of America Says Coin a Buy and Could Rise 38%

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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.”

“While the stock is off 40% from its July highs, under the surface of the 4Q25 crypto correction the company’s product velocity has increased and its [total addressable market] expanded in parallel.”

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 Sigel

On 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 Finance

Related: 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.