Barclays upgrades Coinbase and Robinhood ratings and considers their business models "mature"

, British banking giant Barclays upgraded the ratings of Coinbase (COIN) and Robinhood (HOOD) from underweight to hold, citing the companies' better business models. Barclays analyst Benjamin Budish said both companies have "matured significantly," especially due to product expansion and a more positive financial outlook. Barclays said in the report that Coinbase in particular could benefit from a friendlier regulatory environment, given that both presidential candidates have taken an increasingly friendly attitude toward the digital asset industry and have received approval for multiple spot cryptocurrency exchange-traded funds (ETFs). Barclays said: "The factors that drove our underweight rating are gradually weakening, and we now believe that the risk/reward of the two stocks is more balanced." (Coindesk)