Dernières nouvelles pour Coinbase Global (NASDAQ:COIN) Stock

COINBASE GLOBAL INC -CLASS A

Coinbase Glb

Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy. Users can establish an account directly with the firm, instead of using an intermediary, and many choose to allow Coinbase to act as a custodian for their cryptocurrency, giving the company breadth beyond that of a traditional financial exchange. While the company still generates the majority of its revenue from transaction fees charged to its retail customers, Coinbase uses internal investment and acquisitions to expand into adjacent businesses, such as prime brokerage and data analytics.

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Knowing which <a href="https://www.benzinga.com/personal-finance/25/03/44376666/high-yield-dividend-investor-making-12900-per-year-names-10-favorite-stocks-took-me-almost-3-years-to-get-to-this-point">stocks</a> to hold for the long term and which to sell before they drag down your portfolio is a challenge every investor faces at least once in their journey.
Some swear by the &#8220;buy and hold&#8221; strategy, while others advocate for constant rebalancing of a portfolio to mitigate <a href="https://www.benzinga.com/personal-finance/25/03/44476778/author-says-dave-ramsey-is-completely-ignorant-of-sequence-of-returns-risk-questions-whether-1-million-is-really-enough-for-retirement">risk</a>. The issue becomes even more pronounced when a portfolio is heavily condensed in high-growth but volatile sectors like technology.
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One such investor recently took to Reddit to seek advice on his $14,228 portfolio, which includes tech giants like Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)​, Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>, GOOG)), and Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), alongside ETFs like Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) and Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), and even some crypto-linked stocks like Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) and MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>).
The poster is considering adding Robinhood Markets (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) to his portfolio but is unsure if now is the right time. He&#8217;s also wondering whether to keep high-risk stocks like TSLA, COIN, and MSTR or shift to more stable assets and how to diversify his portfolio further.
Trending: Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.
The Reddit community has come forward with plenty of advice in the comments; let&#8217;s see what they say.
<h2 class="wp-block-heading">Hold or Sell? Investor With $14,000 Tech-Heavy Portfolio Ponders Diversification–Reddit Advises Him</h2>
Diversify into Other Sectors or Broader ETFs
Many Redditors indicated that the investor&#8217;s portfolio is way too concentrated in tech, which increases risk. Instead, they suggested reducing individual stock holdings and adding ETFs to gain exposure to other sectors.
&#8220;I am sure you know this, but VOO/QQQ includes all of the individual companies that you have the majority of your portfolio invested in,&#8221; a comment says.
Advising the poster to diversify his portfolio, one Redditor suggested choosing either VOO or QQQ, but not both.
&#8220;You own good companies! Personally, I would choose one of the two VOO/QQQ not both, but that&#8217;s just me and is not really a big deal&#8230; Other than that, I like everything else; I think I own all of them, except COIN. Look into buying other sectors, you are too heavily concentrated on tech.&#8221;
A commenter advised the poster to add a broad-market ETF to reduce complexity and risk.
&#8220;Too complex for this volume, many duplicates and missing diversification. Just do VOO or an [MSCI (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/msci#NYSE">MSCI</a>)] world index and that's it,&#8221; he wrote.
&#8220;VOO and QQQ are redundant and lend even more weight to the Mag 7. COIN, MSTR, TSLA, and NVDA are no-go long-term, I think. Try to add something more stable like [Raytheon Technologies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rtx#NYSE">RTX</a>)], [UnitedHealth Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/unh#NYSE">UNH</a>)], or [The Coca-Cola Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ko#NYSE">KO</a>)],&#8221; a user suggested.
A Redditor recommended the investor add a mix of ETFs and stable dividend-paying stocks to improve the portfolio&#8217;s resilience.
&#8220;Continue with VOO, [Invesco NASDAQ 100 ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqqm#NASDAQ">QQQM</a>)] only, and get some solid plays added from now on, diversify a bit. Can stick with ETFs or index, defense, utilities, energy, health care, precious metals, [Berkshire Hathaway (NYSE: BRK.A, BRK.B)], with the trade war, you need stuff that can survive. Look for some balance now with solid legacy names with dividends,&#8221; he wrote.
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Sell TSLA, COIN, and MSTR
The poster&#8217;s most controversial holdings were TSLA, COIN, and MSTR, and some commenters argued that he should get rid of them since they&#8217;re too risky for a 10-year hold.
&#8220;Sell the TSLA and take the win; it's overvalued dramatically,&#8221; a comment reads.
&#8220;I'd scrub TSLA and MSTR and put it in VOO or QQQ. Tesla's valuation is and has been insane forever, even after the sell-off. The fundamentals are just awful for its valuation. And that's not even dipping into political stuff. Plus, it's already a decent weight in VOO anyway. And MSTR is straight-up junk,&#8221; a Redditor said.
This user also suggested selling the three stocks, saying, &#8220;I would personally remove MSTR, COIN, and TSLA and buy more of QQQ/VOO.&#8221;
&#8220;Get rid of TSLA before it wrecks your portfolio!&#8221; another comment reads.
One Redditor shared he would never hold MSTR for the long term, and suggested HOOD instead of COIN.
&#8220;No way I would hold MSTR for 10 years. You are playing crypto with COIN; in my opinion, HOOD is the better bet now that they are getting into the higher-margin gambling business. If you want Bitcoin exposure, buy [iShares Bitcoin Trust (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ibit#NASDAQ">IBIT</a>)].
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$14K Investor In TSLA, NVDA, And QQQ Faces Dilemma – 'Looking To Hold For At Least 10 Years' But Is That A Recipe For Disaster? Reddit Debates

From a snapshot perspective of market sentiment, cryptocurrency exchange and services provider Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) does not appear to be walking on auspicious grounds. 
Instead, circumstances seem quite bearish. Still, a rotation in opinion may be materializing among smart money traders or the so-called whales. As such, bullish speculators may have a fast-approaching opportunity in Coinbase stock.
Again, at first glance, the notion of imminent upside appears far-fetched, to say the least. One of the more damning indicators is the <a href="https://www.benzinga.com/topic/death-cross">death cross</a>. A phenomenon that describes when a shorter-running moving average slips beneath a longer-running average — typically the 50-day moving average falling below the 200 DMA — the death cross symbolizes a deceleration of momentum. In some cases, it could also signal the beginning of a prolonged downturn or an outright bear market.
To be clear, Coinbase stock has yet to officially print a death cross — but, it's very much on the cusp of doing so. At time of writing on Friday, Coinbase&#8217;s 50 DMA lands at $239.54, while the 200 DMA sits at $232.26 — a gap of only 3.13%. Today's big drop, contributing to a five-day loss of roughly 12%, has accelerated the likelihood of the dreaded signal flashing.
What's more, technical analysts have warned certain cryptos themselves are <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44523170/bitcoin-ethereum-xrp-dogecoin-trade-sideways-as-trader-warns-of-potential-btc-death-cross">at risk of printing the death cross</a>. Since Coinbase stock in many ways represents a proxy of the broader crypto complex, an erosion of confidence in the underlying benchmark would seem to bode poorly for Coinbase stakeholders.
<h1 class="wp-block-heading">Why Coinbase Stock Could be Offering a Contrarian Setup</h1>
Despite the ominous-sounding nature of the death cross, in certain situations, the technical pattern could represent a bullish contrarian signal. In other words, rather than representing a warning of imminent doom, the bearish crossing of the moving averages could instead be a discount.
Following its <a href="https://www.benzinga.com/markets/cryptocurrency/21/04/20615624/coinbase-direct-listing-what-you-need-to-know-ahead-of-crypto-exchanges-public-debut">direct listing</a> in April 2021, Coinbase stock has printed three death crosses, as follows:
<ul>
<li>On Jan. 27, 2022, Coinbase's 50 DMA fell below its 200 DMA, with a closing price of $170.20.</li>
<li>On June 22, 2023, Coinbase flashed the signal, closing at $57.49.</li>
<li>On Sept. 9, 2024, Coinbase last signaled the death cross at a closing price of $170.09.</li>
</ul>
Although it's an extremely small sample size, it's intriguing that in every case, Coinbase stock has jumped higher one month after the death cross flashed. Starting from the first death cross, the post-one-month price of Coinbase clocked in at $190.77, $98.85 and $213.72, for an average return of 36.56%.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/28145801/COIN-stock-death-cross-1024x576.jpg" alt="" class="wp-image-847616" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/28145801/COIN-stock-death-cross-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/28145801/COIN-stock-death-cross-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/28145801/COIN-stock-death-cross-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/28145801/COIN-stock-death-cross.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image by author</figcaption></figure>
Adding to the speculative fire is the pivoting of sentiment among the whales. On March 18, Benzinga's <a href="https://www.benzinga.com/insights/options/25/03/44379101/looking-at-coinbase-globals-recent-unusual-options-activity">options scanner</a> identified unusual options activity that was net bearish. Specifically, the biggest transaction in terms of dollar volume were for the sale of $300 calls expiring June 20 of this year. There were other sold calls expiring on the aforementioned date with a strike price of $150.
Based on the premiums received, readers can infer that participating institutional traders do not anticipate Coinbase stock breaking above the $190 level. While this sounds pessimistic, <a href="https://www.benzinga.com/insights/options/25/03/44494635/looking-at-coinbase-globals-recent-unusual-options-activity">more recent options scans</a> show a gradual sentiment shift.
During the midweek session, the biggest non-neutral transaction was for the purchase of $5 calls with an expiration date of Dec. 19, 2025. These ultra-deep in-the-money (ITM) calls carried a premium (ask price) of $200.25. By adding this premium to the strike price, one can presume that participating traders anticipate Coinbase stock breaking above $205.25 before Dec. 19 — preferably significantly above $205.25 and well before Dec. 19.
Finally, it's worth pointing out that around the $175 level, Coinbase stock is trading on a long-term support line. Therefore, it wouldn't be out of the question for Coinbase shares to pop higher, if only as a dead-cat bounce.
<h1 class="wp-block-heading">Waiting for the Right Moment</h1>
As stated earlier, the death cross has yet to materialize, although that day could come at any moment, depending on the volatility of Coinbase stock. It's also worth pointing out that history isn't guaranteed to repeat. While Coinbase currently offers a "perfect" death cross record, there are no promises that the fourth edition will pan out favorably.
Nevertheless, assuming that Coinbase stock prints the death cross next week, a rebound could materialize by the options chain expiring May 2. Conservatively, the average return of the lower-performing death crosses comes in at nearly 19%, implying a price target of around $208. To be blunt, speculators have enticing avenues to consider.
For example, aggressive traders may consider the 200/205 bull spread. This transaction involves buying the $200 call (at a time-of-writing ask of $750) and simultaneously selling the $205 call (at a $550 bid). The proceeds from the short call partially offset the debit paid for the long call, resulting in a net cash outlay of $200. Should Coinbase hit the short strike price at expiration, the reward is $300, or a 150% payout.
For the same May 2 expiration date, ultra-aggressive traders could bump up the call spread's short strike to $210; that is, buy the 200/210 spread. This transaction involves a net cash outlay of $310, while the maximum reward rises to $690, or a blistering payout of almost 223%.
Read Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/03/44524353/hpe-stock-death-cross-contrarian-opportunity"> • Options Corner: Why Hewlett Packard Enterprise&#8217;s Death Cross Could Be A Contrarian Indicator</a>
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Options Corner: Coinbase's Crossroads — Bearish Signal Or Bullish Opportunity?

Macro analyst Capital Flows has identified Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) increasing correlation with traditional risk assets, particularly low-quality banks in the Russell index, as key to understanding its price trajectory in the <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44542682/bitcoin-crashes-below-84000-but-heres-why-experts-expect-stronger-sentiment-soon">current market environment</a>.
What Happened: &#8220;Bitcoin is having a greater convergence with traditional risk asset flows but remains at the far end of the risk curve,&#8221; Capital Flows stated in a <a href="https://x.com/Globalflows/status/1905343513971310915">thread</a> on X on Friday, noting that capital must move outward from less risky assets to reach Bitcoin.
This positioning explains why Bitcoin has been &#8220;moving lockstep with all of the lowest quality banks in the Russell&#8221; &#8211; both are highly sensitive to changes in macro liquidity conditions.
The analyst characterized the current macro backdrop as &#8220;neutral,&#8221; with interest rates having &#8220;come down marginally&#8221; but the carry trade continuing to create risk for assets while &#8220;the quantity of money in the system isn&#8217;t expanding like it used to.&#8221; 
Cross-currency basis swaps show no signs of a &#8220;massive injection of macro liquidity,&#8221; and year-to-date ETF flows remain &#8220;only marginally positive.&#8221;
For Bitcoin to reach the $100,000 range, Capital Flows emphasized the need for a &#8220;durable change in macro liquidity which isn&#8217;t taking place right now.&#8221; 
Without such a shift, another equity market decline could push Bitcoin down to the &#8220;$72-75,000 range&#8221; as implied volatility premiums increase.
The analyst highlighted Strategy&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) continued Bitcoin purchases as a positive factor, describing the company as &#8220;continuing to hit the bid and take on more risk to buy massive amounts of Bitcoin.&#8221; 
Both Strategy and Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) currently show an &#8220;implied volatility discount&#8221; after the recent market bounce, suggesting &#8220;upside is likely limited&#8221; from a positioning perspective.
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What&#8217;s Next: Despite these short-term concerns, Capital Flows noted Bitcoin&#8217;s current 22% drawdown from all-time highs is &#8220;nowhere near as bad as it could be compared to historical parallels,&#8221; reflecting Bitcoin&#8217;s gradual integration &#8220;into the legacy financial system as a digital gold type of asset.&#8221;
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Bitcoin, Strategy, Coinbase Feel The Heat From Stock Market Drawdown: 'Upside Is Likely Limited,' Analyst Says

Markets faltered on Friday, with Wall Street reeling as investors hurried to shed risk in the face of mounting <a href="https://www.benzinga.com/25/03/44537936/consumer-inflation-expectations-skyrocket-in-march-hit-highest-levels-in-32-years">inflation and tariff uncertainties.</a>
The S&amp;P 500 fell 2.1% by 1:30 p.m. trading in New York, on track to end the week with losses. The tech-heavy Nasdaq 100 tumbled 2.6%, and the Dow fell 1.7%. 
All members of the Magnificent Seven group were in the red, with Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) marking the widest drops, both down 4.4%.
Earlier on Friday, the Fed's favorite inflation gauge – the core Personal Consumption Expenditure price index – rose 2.8% on a yearly basis in February, surprising estimates of 2.7%. 
Investor anxiety deepened following the latest University of Michigan Survey of Consumers, which showed 5-year forward inflation expectations jumping to 4.1% — a 0.2-point increase from prior estimates and the highest reading since February 1993. As stocks fell in unison, a flight to safety ensued, sending gold up 1% to a record-breaking $3,090 per ounce. Treasury bonds also rallied, with yields declining across all maturities. 
Price action in commodities was mixed with oil down 1% and natural gas up 2.4%. Sentiment in crypto also took a sharp hit, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) down by 4% to below $84,000, flipping to weekly losses.
<h3 class="wp-block-heading">Friday's Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg %</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,597.02</td>
<td>-1.7%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,574.84</td>
<td>-2.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,016.62</td>
<td>-2.3%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,283.98</td>
<td>-2.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:20 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;fell 2.1% to $555.41.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;eased 1.8% to $415.31.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;dropped 2.7% to $468.61.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>)&nbsp;fell 2.5% to $199.57</li>
<li>The&nbsp;Utilities&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 0.9%; the&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)&nbsp;lagged, down 3.2%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>Shares of Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) sunk 15% in reaction to the company&#8217;s earnings report. </li>
<li>Michigan-based automakers extended losses as investors asses the impact from tariffs. General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) fell 2% following a nearly 6% drop on Thursday. Ford Motor. Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) fell 2.7% after a 3.9% drop a day earlier.</li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) erased Thursday&#8217;s gains and fell 3.5%. </li>
<li>Crypto-related stocks plummeted, with Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) down nearly 10%. Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) fell over 7%, heading for the lowest close since mid-October 2024. </li>
</ul>
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Inflation Fears Spark Risk-Off Sentiment As Magnificent 7 Drop: What's Driving Markets Friday?

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BITF

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Core Scientific, Inc. - Class A Common Stock

CORZ

HIVE

IREN

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RIOT

WULF

Shares of Bitcoin miners and crypto-linked stocks are trading lower following greater-than-expected inflation data measured through the PCE price index for February, while personal spending missed estimates. Additionally, recent tariff announcements may be weighing on the space.

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/18/25</td>
<td>$44.00</td>
<td>$305.1K</td>
<td>1.2K</td>
<td>4.9K</td>
</tr>
<tr>
<td>HOOD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/18/25</td>
<td>$60.00</td>
<td>$106.8K</td>
<td>2.5K</td>
<td>2.0K</td>
</tr>
<tr>
<td>C</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$70.00</td>
<td>$342.1K</td>
<td>12.4K</td>
<td>1.2K</td>
</tr>
<tr>
<td>AIG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/04/25</td>
<td>$82.00</td>
<td>$55.0K</td>
<td>55</td>
<td>1.0K</td>
</tr>
<tr>
<td>SOFI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$17.00</td>
<td>$29.2K</td>
<td>32.5K</td>
<td>581</td>
</tr>
<tr>
<td>UPST</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/25/25</td>
<td>$50.00</td>
<td>$40.9K</td>
<td>338</td>
<td>207</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$400.00</td>
<td>$33.4K</td>
<td>8.5K</td>
<td>183</td>
</tr>
<tr>
<td>XYZ</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>04/17/25</td>
<td>$59.00</td>
<td>$34.0K</td>
<td>47</td>
<td>116</td>
</tr>
<tr>
<td>AFRM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$30.00</td>
<td>$174.5K</td>
<td>327</td>
<td>103</td>
</tr>
<tr>
<td>PYPL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>05/02/25</td>
<td>$78.00</td>
<td>$40.5K</td>
<td>36</td>
<td>17</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For BAC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), we notice a call option trade that happens to be bullish, expiring in 113 day(s) on July 18, 2025. This event was a transfer of 1518 contract(s) at a $44.00 strike. The total cost received by the writing party (or parties) was $305.1K, with a price of $201.0 per contract. There were 1254 open contracts at this strike prior to today, and today 4906 contract(s) were bought and sold. 
• Regarding HOOD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), we observe a call option trade with bullish sentiment. It expires in 113 day(s) on July 18, 2025. Parties traded 449 contract(s) at a $60.00 strike. The total cost received by the writing party (or parties) was $106.8K, with a price of $238.0 per contract. There were 2523 open contracts at this strike prior to today, and today 2001 contract(s) were bought and sold. 
• Regarding C (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), we observe a put option trade with bullish sentiment. It expires in 85 day(s) on June 20, 2025. Parties traded 1100 contract(s) at a $70.00 strike. The total cost received by the writing party (or parties) was $342.1K, with a price of $311.0 per contract. There were 12434 open contracts at this strike prior to today, and today 1200 contract(s) were bought and sold. 
• Regarding AIG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>), we observe a put option sweep with bearish sentiment. It expires in 8 day(s) on April 4, 2025. Parties traded 1000 contract(s) at a $82.00 strike. This particular put needed to be split into 16 different trades to become filled. The total cost received by the writing party (or parties) was $55.0K, with a price of $55.0 per contract. There were 55 open contracts at this strike prior to today, and today 1000 contract(s) were bought and sold. 
• For SOFI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>), we notice a call option sweep that happens to be bearish, expiring in 295 day(s) on January 16, 2026. This event was a transfer of 200 contract(s) at a $17.00 strike. This particular call needed to be split into 21 different trades to become filled. The total cost received by the writing party (or parties) was $29.2K, with a price of $146.0 per contract. There were 32501 open contracts at this strike prior to today, and today 581 contract(s) were bought and sold. 
• Regarding UPST (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>), we observe a call option trade with bearish sentiment. It expires in 29 day(s) on April 25, 2025. Parties traded 100 contract(s) at a $50.00 strike. The total cost received by the writing party (or parties) was $40.9K, with a price of $410.0 per contract. There were 338 open contracts at this strike prior to today, and today 207 contract(s) were bought and sold. 
• For COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we notice a call option sweep that happens to be bearish, expiring in 295 day(s) on January 16, 2026. This event was a transfer of 41 contract(s) at a $400.00 strike. This particular call needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $33.4K, with a price of $815.0 per contract. There were 8521 open contracts at this strike prior to today, and today 183 contract(s) were bought and sold. 
• For XYZ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYZ#NYSE">XYZ</a>), we notice a put option trade that happens to be neutral, expiring in 21 day(s) on April 17, 2025. This event was a transfer of 100 contract(s) at a $59.00 strike. The total cost received by the writing party (or parties) was $34.0K, with a price of $340.0 per contract. There were 47 open contracts at this strike prior to today, and today 116 contract(s) were bought and sold. 
• For AFRM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>), we notice a call option sweep that happens to be bearish, expiring in 21 day(s) on April 17, 2025. This event was a transfer of 103 contract(s) at a $30.00 strike. This particular call needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $174.5K, with a price of $1695.0 per contract. There were 327 open contracts at this strike prior to today, and today 103 contract(s) were bought and sold. 
• Regarding PYPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), we observe a call option sweep with neutral sentiment. It expires in 36 day(s) on May 2, 2025. Parties traded 471 contract(s) at a $78.00 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $40.5K, with a price of $86.0 per contract. There were 36 open contracts at this strike prior to today, and today 17 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AFRM

PYPL

SOFI

UPST

10 Financials Stocks Whale Activity In Today's Session

Shares of Bitcoin miners and crypto-linked stocks are trading lower as Bitcoin falls, following the broader market decline.

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>HOOD</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>03/28/25</td>
<td>$43.00</td>
<td>$64.0K</td>
<td>5.0K</td>
<td>4.4K</td>
</tr>
<tr>
<td>SOFI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/04/25</td>
<td>$12.00</td>
<td>$58.0K</td>
<td>4.7K</td>
<td>4.0K</td>
</tr>
<tr>
<td>NU</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/04/25</td>
<td>$10.00</td>
<td>$25.6K</td>
<td>224</td>
<td>3.8K</td>
</tr>
<tr>
<td>C</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$85.00</td>
<td>$538.0K</td>
<td>6.6K</td>
<td>1.5K</td>
</tr>
<tr>
<td>GS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/15/27</td>
<td>$550.00</td>
<td>$42.3K</td>
<td>72</td>
<td>204</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$70.00</td>
<td>$36.7K</td>
<td>5.0K</td>
<td>198</td>
</tr>
<tr>
<td>ICE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$185.00</td>
<td>$27.8K</td>
<td>25</td>
<td>159</td>
</tr>
<tr>
<td>USB</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>09/19/25</td>
<td>$52.50</td>
<td>$31.3K</td>
<td>699</td>
<td>122</td>
</tr>
<tr>
<td>EEFT</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$105.00</td>
<td>$35.0K</td>
<td>3</td>
<td>100</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$2.50</td>
<td>$190.9K</td>
<td>3.7K</td>
<td>87</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding HOOD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), we observe a put option trade with neutral sentiment. It expires in 2 day(s) on March 28, 2025. Parties traded 1000 contract(s) at a $43.00 strike. The total cost received by the writing party (or parties) was $64.0K, with a price of $64.0 per contract. There were 5037 open contracts at this strike prior to today, and today 4469 contract(s) were bought and sold. 
• For SOFI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>), we notice a call option trade that happens to be bearish, expiring in 9 day(s) on April 4, 2025. This event was a transfer of 500 contract(s) at a $12.00 strike. The total cost received by the writing party (or parties) was $58.0K, with a price of $116.0 per contract. There were 4721 open contracts at this strike prior to today, and today 4067 contract(s) were bought and sold. 
• Regarding NU (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>), we observe a put option sweep with bearish sentiment. It expires in 9 day(s) on April 4, 2025. Parties traded 3611 contract(s) at a $10.00 strike. This particular put needed to be split into 32 different trades to become filled. The total cost received by the writing party (or parties) was $25.6K, with a price of $7.0 per contract. There were 224 open contracts at this strike prior to today, and today 3862 contract(s) were bought and sold. 
• For C (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), we notice a call option sweep that happens to be bullish, expiring in 296 day(s) on January 16, 2026. This event was a transfer of 1474 contract(s) at a $85.00 strike. This particular call needed to be split into 60 different trades to become filled. The total cost received by the writing party (or parties) was $538.0K, with a price of $365.0 per contract. There were 6601 open contracts at this strike prior to today, and today 1528 contract(s) were bought and sold. 
• For GS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), we notice a call option trade that happens to be bearish, expiring in 660 day(s) on January 15, 2027. This event was a transfer of 4 contract(s) at a $550.00 strike. The total cost received by the writing party (or parties) was $42.3K, with a price of $10580.0 per contract. There were 72 open contracts at this strike prior to today, and today 204 contract(s) were bought and sold. 
• For WFC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), we notice a put option sweep that happens to be bearish, expiring in 86 day(s) on June 20, 2025. This event was a transfer of 144 contract(s) at a $70.00 strike. This particular put needed to be split into 23 different trades to become filled. The total cost received by the writing party (or parties) was $36.7K, with a price of $255.0 per contract. There were 5001 open contracts at this strike prior to today, and today 198 contract(s) were bought and sold. 
• For ICE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>), we notice a call option sweep that happens to be bullish, expiring in 51 day(s) on May 16, 2025. This event was a transfer of 159 contract(s) at a $185.00 strike. This particular call needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $27.8K, with a price of $175.0 per contract. There were 25 open contracts at this strike prior to today, and today 159 contract(s) were bought and sold. 
• Regarding USB (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), we observe a put option sweep with neutral sentiment. It expires in 177 day(s) on September 19, 2025. Parties traded 33 contract(s) at a $52.50 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $31.3K, with a price of $948.0 per contract. There were 699 open contracts at this strike prior to today, and today 122 contract(s) were bought and sold. 
• Regarding EEFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EEFT#NASDAQ">EEFT</a>), we observe a put option trade with bullish sentiment. It expires in 51 day(s) on May 16, 2025. Parties traded 100 contract(s) at a $105.00 strike. The total cost received by the writing party (or parties) was $35.0K, with a price of $350.0 per contract. There were 3 open contracts at this strike prior to today, and today 100 contract(s) were bought and sold. 
• Regarding COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we observe a call option trade with bearish sentiment. It expires in 86 day(s) on June 20, 2025. Parties traded 10 contract(s) at a $2.50 strike. The total cost received by the writing party (or parties) was $190.9K, with a price of $19090.0 per contract. There were 3779 open contracts at this strike prior to today, and today 87 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

EEFT

10 Financials Stocks With Whale Alerts In Today's Session

While Coinbase Global Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) trading volumes have decelerated significantly, investors seem to be underestimating the potential of the company's <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44456074/tokenization-will-merge-crypto-and-equities-bernstein">non-trading revenue streams</a>, according to Rosenblatt Securities.
The Coinbase Global Analyst: <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5841bdbcaae83900016b3c77/chris-brendler">Analyst Chris Brendler</a> on Wednesday reiterated a Buy rating and price target of $305.
The Coinbase Global Thesis: Recent trends indicate "a material slowdown" in the company's trading volumes, with the daily average in March down 20% month-on-month and 30% below January's daily average, Brendler said in the note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
"If March&#8217;s lackluster pace continues throughout 2Q25, we estimate COIN trading volume would be $335B, about 4% below our current $350B estimate," the analyst wrote. He added, however, that this weakness is unlikely to continue given positive tailwinds from the U.S. government's change in stance regarding cryptocurrencies.
Although trading volumes have slowed, Coinbase Global continues to gain market share, Brendler said.
Stablecoin growth has accelerated to reach a record high in March, with the growth being led by USDC, which is up 36% year to date versus only 5% for Tether. USDC's market share gains are likely to continue and Coinbase Global's 50% ownership of USDC is "an underappreciated positive," he wrote.
COIN Price Action: Shares of Coinbase Global had declined by 2.8% to $198.37 at the time of publication on Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44491124/strategic-bitcoin-reserve-eliminates-last-threat-says-bitwises-matt-hougan">Strategic Bitcoin Reserve Eliminates Last Threat, Says Bitwise&#8217;s Matt Hougan</a></li>
</ul>
Photo by rafapress on Shutterstock.

Analyst Color

Reiteration

Analyst Ratings

Movers

Trading Ideas

Despite Volume Drop, Coinbase Analyst Highlights Stablecoin Momentum, Competitive Edge

Financial giants have made a conspicuous bearish move on Coinbase Global. Our analysis of options history for Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) revealed 18 unusual trades.
Delving into the details, we found 27% of traders were bullish, while 44% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $633,400, and 12 were calls, valued at $803,970.
<h3>Projected Price Targets</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $5.0 to $250.0 for Coinbase Global during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Coinbase Global's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Coinbase Global's significant trades, within a strike price range of $5.0 to $250.0, over the past month.
<h3>Coinbase Global Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1742997733_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>COIN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>03/28/25</td>
<td>$21.85</td>
<td>$21.85</td>
<td>$21.85</td>
<td>$225.00</td>
<td>$327.7K</td>
<td>177</td>
<td align="right">0</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/19/25</td>
<td>$200.25</td>
<td>$195.55</td>
<td>$199.69</td>
<td>$5.00</td>
<td>$199.6K</td>
<td>608</td>
<td align="right">20</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/19/25</td>
<td>$195.2</td>
<td>$190.55</td>
<td>$193.43</td>
<td>$5.00</td>
<td>$193.4K</td>
<td>608</td>
<td align="right">40</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>12/19/25</td>
<td>$194.7</td>
<td>$190.55</td>
<td>$192.97</td>
<td>$5.00</td>
<td>$96.4K</td>
<td>608</td>
<td align="right">60</td>
</tr>
<tr>
<td>COIN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$5.85</td>
<td>$5.45</td>
<td>$5.85</td>
<td>$185.00</td>
<td>$94.7K</td>
<td>1.2K</td>
<td align="right">191</td>
</tr>
</tbody>
</table>

<h3>About Coinbase Global</h3>
Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy. Users can establish an account directly with the firm, instead of using an intermediary, and many choose to allow Coinbase to act as a custodian for their cryptocurrency, giving the company breadth beyond that of a traditional financial exchange. While the company still generates the majority of its revenue from transaction fees charged to its retail customers, Coinbase uses internal investment and acquisitions to expand into adjacent businesses, such as prime brokerage and data analytics.
After a thorough review of the options trading surrounding Coinbase Global, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Present Market Standing of Coinbase Global</h3>
<ul>
<li>Currently trading with a volume of 919,286, the COIN's price is up by 0.05%, now at $204.33. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 36 days.</li>
</ul>
<h3>Professional Analyst Ratings for Coinbase Global</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $288.6.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; Maintaining their stance, an analyst from B of A Securities continues to hold a Neutral rating for Coinbase Global, targeting a price of $311. 
&#x2A; In a cautious move, an analyst from Rosenblatt downgraded its rating to Buy, setting a price target of $305. 
&#x2A; Consistent in their evaluation, an analyst from Rosenblatt keeps a Buy rating on Coinbase Global with a target price of $305. 
&#x2A; An analyst from Mizuho has decided to maintain their Neutral rating on Coinbase Global, which currently sits at a price target of $217. 
&#x2A; An analyst from Rosenblatt has decided to maintain their Buy rating on Coinbase Global, which currently sits at a price target of $305. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Coinbase Global with <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> for real-time alerts.

Markets

Looking At Coinbase Global's Recent Unusual Options Activity

Matt Hougan, Chief Investment Officer at Bitwise Asset Management, declared that the final existential threat to Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) vanished with President Trump's recent executive order establishing a <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43889897/bitcoin-strategic-reserve-with-1-million-btc-could-offset-21-trillion-national-debt">U.S. Strategic Bitcoin Reserve</a>.
What Happened: In a note <a href="https://experts.bitwiseinvestments.com/cio-memos/the-great-derisking-of-bitcoin">released</a> on Tuesday, Hougan argued that this move eliminates the lingering fear of a government ban, marking the present as the safest time ever to invest in Bitcoin on a risk-adjusted basis.
Hougan traced Bitcoin's journey from its early days, recalling a 2011 meeting at ETF.com where it first hit $1—a moment he skipped investing in due to steep risks like shaky exchanges and regulatory uncertainty. 
"Back then, putting $1,000 into Bitcoin was a massive gamble," he wrote, citing issues like New Liberty Financial's sketchy setup and the lack of secure custody. 
Over time, he noted, Bitcoin overcame technical doubts, trading woes with Coinbase's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) rise, and custody fears as firms like Fidelity stepped in, steadily chipping away at its vulnerabilities.
The turning point, Hougan emphasized, came with Trump's order this month, which positions Bitcoin as a federal reserve asset using seized coins. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44486447/ripple-closes-in-on-legal-resolution-with-sec-will-recover-75-million-from-original-fine">Ripple Closes In On Legal Resolution With SEC, Will Recover $75 Million From Original Fine</a>
"The last existential risk I always mentioned at conferences was a U.S. ban—now it's gone," he stated, addressing past concerns about Bitcoin challenging the dollar. 
He argued the U.S. sees Bitcoin as a stronger fallback than rivals like China's yuan if the dollar's dominance wanes, a shift he didn't foresee earlier. 
This policy, he said, flips the script from potential suppression to strategic embrace.
Hougan pointed to shifting investor behavior as proof, noting Bitwise clients now often allocate 3% of portfolios to Bitcoin, up from 1% two years ago when a ban loomed as a possibility. 
What&#8217;s Next: He predicts this could climb to 5% or more as the market grasps Bitcoin's reduced risk profile, bolstered by spot Bitcoin ETFs launched in January 2024 and now this reserve.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44479576/digital-chamber-urges-congress-to-act-on-blockchain-for-national-security-financial-innovation-energy-independence">Digital Chamber Urges Congress To Act On Blockchain For National Security, Financial Innovation, Energy Independence</a></li>
</ul>
Image: Shutterstock

Strategic Bitcoin Reserve Eliminates Last Threat, Says Bitwise's Matt Hougan

Rosenblatt analyst Chris Brendler maintains Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) with a Buy and maintains $305 price target.

Price Target

Rosenblatt Maintains Buy on Coinbase Global, Maintains $305 Price Target

Asset management giant BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) is deepening its presence in the digital asset space with the launch of a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/money/best-spot-bitcoin-etfs">exchange-traded product (ETP)</a> in Europe, marking its first such initiative outside the U.S.
What Happened: The new product, named iShares Bitcoin ETP, will be available on Germany's Xetra exchange, as well as Euronext's Paris and Amsterdam platforms, <a href="https://www.bloomberg.com/news/articles/2025-03-25/blackrock-debuts-bitcoin-exchange-traded-product-in-europe?embedded-checkout=true">according</a> to Bloomberg.
It will trade under the tickers IB1T and BTCN, respectively. This move follows the company's highly successful rollout of its U.S.-based iShares Bitcoin Trust, which quickly amassed tens of billions in assets since launching in January 2024.
To attract early interest, BlackRock is offering the European ETP with an initial management fee of just 0.15%, discounted from its standard 0.25% until the end of the year. 
This temporary rate positions the fund among the most competitively priced crypto investment products in the region.
Manuela Sperandeo, who oversees iShares products in Europe and the Middle East at BlackRock, noted that the timing reflects a key moment in the digital asset investment landscape.
"We're seeing a shift where professional investors are now engaging more actively alongside established retail demand," she said.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44463140/bitcoin-reserve-no-house-of-doge-just-launched-a-dogecoin-reserve-valued-1-83-million">Bitcoin Reserve? No, &#8216;House Of Doge&#8217; Just Launched A Dogecoin Reserve Valued $1.83 Million</a>
Why It Matters: While Europe has hosted crypto ETPs for some time, the overall market remains significantly smaller than its U.S. counterpart, with around $13.6 billion in assets under management across the region.
By contrast, BlackRock's U.S. Bitcoin product has rapidly become one of the most successful ETF launches in market history.
The physical Bitcoin held by the ETP will be stored by Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), which will serve as custodian.
The fund will be issued through a Swiss-based special purpose vehicle, and it is intended for both institutional participants and informed individual investors.
BlackRock's latest expansion highlights the firm's continued strategy of bringing traditional financial structures into the digital asset space, reinforcing Bitcoin's position as a mainstream investment option.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44460515/how-white-houses-april-2-tariffs-might-jolt-bitcoin-traders">How White House&#8217;s April 2 Tariffs Might Jolt Bitcoin Traders</a></li>
</ul>
Image: Shutterstock

BlackRock Expands Bitcoin ETF Offering To Europe

Wall Street soared Monday, kicking off the week in full risk-on mode as investors welcomed signs of easing trade tensions and <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44459470/us-business-activity-rebounds-as-services-growth-outpaces-forecasts-yet-cost-pressures-intensify">stronger-than-expected economic data. </a>
President Donald Trump&#8216;s softer tone on potential tariffs ahead of the looming April 2, 2025 deadline helped calm nerves. Adding to the optimism, fresh business surveys showed a strong rebound in services activity in March, easing recession worries.
U.S. economic activity accelerated in March, with the Composite Purchasing Managers' Index (PMI) rising rom 51.6 in February to to 53.5. Services PMI jumped to 54.3 — well above consensus forecasts of 50.8 and sharply higher than the prior month's 51.0 reading. Yet, the report also flagged a notable uptick in cost pressures, as businesses reported growing concerns over input prices, likely linked to heightened speculation around potential tariff measures.
The S&amp;P 500 jumped 1.75% by midday in New York, on track for its best one-day performance since mid-January. The Nasdaq 100 rallied 2%, mirroring gains from March 14 — the index's strongest day since early November 2024.
Small caps outperformed their large-cap peers, underscoring the market's improving risk appetite. The Russell 2000 surged 2.8%, marking its best session since the post-election rally on Nov. 6, 2024.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) led the charge on both the S&amp;P 500 and Nasdaq 100, soaring 9.8%, on track for its sharpest one-day gain since early November.
All seven mega-cap tech stocks posted solid gains, with the Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>) climbing 2.9% after Friday's 1.4% rise, setting up what could be its strongest two-day advance since early January.
Every S&amp;P 500 sector, except utilities, traded in positive territory, with consumer discretionary and technology leading the pack.
The U.S. dollar index edged higher, eyeing a fourth consecutive session of gains. Meanwhile, Treasury yields spiked across the curve as investors rotated out of safe-haven assets. The 10-year yield jumped seven basis points to 4.32%, while the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) dropped 0.9%.
Gold pulled back 0.3% to $3,014 per ounce, on pace for its third straight decline, as investors favored riskier assets.
Oil prices gained 1.5% after Trump threatened a 25% tariff on <a href="https://www.benzinga.com/government/regulations/25/03/44460897/oil-prices-rally-exxon-hits-16-week-highs-as-trump-vows-25-tariffs-on-any-country-buying-venezuelan-crude">countries importing Venezuelan crude.</a>
Crypto-related assets also rallied. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) climbed 2.7% to $88,400, while MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) jumped 7.4% and Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) rose 6.2%.
<h1 class="wp-block-heading">Monday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg (%)</td>
</tr>
<tr>
<td> Russell 2000</td>
<td>2,104.07</td>
<td>2.3%</td>
</tr>
<tr>
<td> Nasdaq 100</td>
<td>20,160.42</td>
<td>2.1%</td>
</tr>
<tr>
<td> S&amp;P 500</td>
<td>5,762.34</td>
<td>1.7%</td>
</tr>
<tr>
<td> Dow Jones</td>
<td>42,589.04</td>
<td>1.4%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:20 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 1.8% to $573.92.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 1.3% to $425.30.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rallied 2% to $490.39.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) soared 2.4% to $208.59</li>
<li>The&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, up 2.7%; the&nbsp;Utilities&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 0.2%.</li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul>
<li>Shares of Chinese electric-vehicle giant BYD Co. Ltd. (OTCPK: BYDDY) rallied 5.5% in over-the-counter markets amid stronger-than-expected quarterly earnings. The carmaker is now up 60% year-to-date. </li>
<li>Shares of Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) soared 7.3%, eyeing their biggest one-day jump since February 2024, as Chinese conglomerate Ant Group is increasingly shifting to domestic and AMD chips amid exports controls. </li>
<li>Airline and travel-related stocks rallied substantially amid easing recession fears. United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>), Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) and Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) were up 5.7%, 4.2% and 4%, respectively. </li>
</ul>
Read now: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44458099/us-economy-faces-fork-in-the-road-is-yardenis-roaring-2020s-still-possible">US Economy Faces &#8216;Fork In The Road&#8217;: Is Yardeni&#8217;s &#8216;Roaring 2020s&#8217; Still Possible?</a></li>
</ul>
Photo: Shutterstock

Asia

Government

Large Cap

Regulations

Travel

Treasuries

Tech

BYDDY

MAGS

iShares Trust Barclays 20+ Year Treasury Bond Fund

S&P 500 Rallies On Best Day In 2 Months As Recession Fears Ease, Tesla Rockets, Bitcoin Hits $88,000: What's Driving Markets Monday?

Shares of crypto-linked stocks and Bitcoin miners are trading higher after bitcoin rose above $88,000.

<a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44394754/cathie-wood-hops-on-tokenization-hype-train-says-wed-love-to-tokenize-our-venture-fund">Tokenization is set</a> to fundamentally shift global capital markets, according to a Monday report from Bernstein analysts.
Bernstein's research suggests that as tokenization grows, conventional equities will be issued and traded as blockchain-based assets, creating a hybrid financial landscape. 
"Tokenization will blur the gap between crypto tokens and equities, as traditional equity assets are tokenized on the blockchain," Bernstein analysts wrote in a note sent to Benzinga.
This trend is being fueled by recent moves from major financial players. 
Crypto exchanges such as Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) and Kraken are expanding into traditional asset classes, while broker-dealers like Robinhood (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) are embedding more crypto products into their offerings.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44441335/wall-street-and-crypto-firms-revive-lending-market-after-industry-shakeout">Wall Street And Crypto Firms Revive Lending Market After Industry Shakeout</a>
This convergence is "leading towards more integrated one-stop shop multi-asset investment platforms," Bernstein said.
Bernstein highlighted the growing regulatory clarity around digital asset securities as a key catalyst, citing the anticipated passage of a digital assets market structure bill in 2025. 
This, analysts say, will enable platforms to seamlessly offer both tokenized equities and cryptocurrencies. "With the SEC and CFTC turning crypto friendly, we expect the U.S. onshore crypto opportunity to expand," the note added.
Bernstein also emphasized that tokenization could drive efficiencies and new liquidity pools. 
"We see a world where crypto exchanges will offer spot crypto, crypto derivatives, and tokenized equities, while broker platforms will also scale up their crypto services."
This push towards tokenization underscores a broader shift in how digital and traditional finance are intersecting, reshaping how investors access and trade assets globally.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44441189/trump-administration-weighs-blockchain-integration-to-restructure-usaid-boost-accountability">Trump Administration Weighs Blockchain Integration To Restructure USAID, Boost Accountability</a></li>
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Image: Shutterstock

Tokenization Will Merge Crypto And Equities: Bernstein

<a href="https://www.bloomberg.com/news/articles/2025-03-21/coinbase-in-advanced-talks-to-buy-derivatives-venue-deribit-coin" title="https://www.bloomberg.com/news/articles/2025-03-21/coinbase-in-advanced-talks-to-buy-derivatives-venue-deribit-coin">https://www.bloomberg.com/news/articles/2025-03-21/coinbase-in-advanced-talks-to-buy-derivatives-venue-deribit-coin</a>

'Coinbase Is In Advanced Talks To Buy Derivatives Venue Deribit' - Bloomberg News

A Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) analyst views the stock as a balanced risk/reward opportunity for investors and long-term growth winner in<a href="https://www.benzinga.com/crypto"> the cryptocurrency sector.</a>
The Coinbase Analyst: Goldman Sachs analyst James Yaro gave Coinbase a Neutral rating and a $195 price target.
Analyst Will Nance previously covered the stock for Goldman Sachs. The <a href="https://www.benzinga.com/news/earnings/earnings-beats/25/02/43742915/coinbase-analysts-see-inherent-profitability-in-q4-results">most recent rating </a>from Nance was Neutral with a $350 price target.
Read Also: <a href="https://www.benzinga.com/25/02/43713994/coinbase-q4-earnings-highlights-revenue-beat-consumer-trading-volume-940-billion-company-welcomes-dawn-of-a-new-era-for-crypto">Coinbase Q4 Earnings Highlights: Trading Platform Welcomes &#8216;Dawn Of A New Era For Crypto&#8217;</a>
The Analyst Takeaways: With pure-play exposure to the cryptocurrency sector, Yaro sees long-term growth for Coinbase as the crypto ecosystem expands.
The analyst said Coinbase has a "balanced risk/reward."
Yaro highlights the company's exposure to retail and institutional trading along with a growing subscription and services business.
"We are cautiously optimistic on COIN, but see a balance of upside and downside risks," Yaro said.
Yaro highlights a positive regulatory environment for crypto that could support Coinbase's growth, but also be a negative.
"Longer-term, regulatory reform could increase the crypto TAM, but also bring in competitors from across financial services. Competition could pressure COIN's market share and pricing over time."
Yaro said a more positive regulatory environment could lead to more competitors, but could also lead to some not wanting to build out infrastructure and partnering with Coinbase instead. 
The analyst said Coinbase trades close to the peer mean price-to-earnings ratio for brokerage exchanges and fintechs, which he believes is "fair value."
"Crypto ecosystem expansion likely drives asset and revenue growth across COIN's transactional and non-transactional crypto business, and we see sustainable adjusted profitability, even if crypto prices fall up to 50%."
Potential catalysts highlighted by the analyst include greater use of crypto as a store of value and greater use of crypto to facilitate commerce and payments.
The analyst said Coinbase's subscription and services businesses should grow over time, with stablecoins likely seeing future upside. The analyst's caution is that higher interest rates have helped subscription revenue, which could provide downside with lower interest rates.
COIN Price Action: Coinbase stock is down 1.13% to $187.60 on Thursday versus a 52-week trading range of $146.14 to $349.75. Coinbase stock is down 26% year-to-date in 2025.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43591727/coinbase-ceo-brian-armstrong-says-bitcoin-adoption-to-reach-billions-by-2030">Coinbase CEO Brian Armstrong Says Bitcoin Adoption To Reach &#8216;Billions&#8217; By 2030</a></li>
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Photo: Shutterstock

Initiation

Coinbase Analyst 'Cautiously Optimistic' On Stock With Balanced Risk/Reward, Says Regulatory Environment Is Positive And Negative

Goldman Sachs analyst James Yaro assumes Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) with a Neutral rating and announces Price Target of $195.

Goldman Sachs Assumes Coinbase Global at Neutral, Announces Price Target of $195

Standard Chartered's Geoffrey Kendrick on Thursday warned that activity on Coinbase's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) Base network is influencing Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) price dynamics through <a href="https://www.benzinga.com/money/ethereum-eth-price-predictions">indirect selling pressure</a>.
What Happened: Kendrick explained that while higher activity on Base boosts ETH demand initially—due to transaction fees being paid in ETH—the profits generated by Base are ultimately converted to U.S. dollars, weighing on ETH's price.
According to Kendrick, Base, which has become the dominant Layer-2 on Ethereum, funnels approximately 80% of its revenue back to Coinbase.
The exchange, in turn, does not hold Base's ETH profits for long. 
"Coinbase is not in the business of HODLing Base's ETH profits," Kendrick stated, highlighting data that shows the company proactively selling ETH in the past three quarters, particularly during periods when ETH prices were higher.
Coinbase's quarterly filings disclose how much ETH it holds, split between operational needs and investment purposes.
Since Ethereum's Dencun upgrade in 2024, Base's profits—paid in ETH—have likely been regularly sold off as Coinbase manages risk in response to market conditions.
Kendrick deduced that Coinbase proactively sold 12,652 ETH in the final quarter of 2024, with net proactive selling of 1,558 ETH over the three previous quarters.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44407461/recession-would-be-a-big-catalyst-for-bitcoin-blackrocks-head-of-digital-assets-says">Recession Would Be &#8216;A Big Catalyst For Bitcoin,&#8217; BlackRock&#8217;s Head Of Digital Assets Says</a>
Why It Matters: Kendrick's remarks build on an <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44356017/standard-chartered-lowers-ethereum-price-target-to-4000-heres-why-a-coinbase-blockchain-is-to-blame">earlier Standard Chartered report</a>, where he argued that Base's emergence has removed as much as $50 billion from Ethereum's market capitalization.
"Base now extracts super-profits from the Ethereum ecosystem," Kendrick wrote in the prior note, where he also pointed to Ethereum's broader structural challenges.
He reiterated that Ethereum's transition to proof-of-stake and its Layer-2 scaling model—designed to reduce fees—have unintentionally shifted economic value away from Ethereum to its Layer-2s, primarily Base.
The report also lowered Standard Chartered's ETH-USD price target to $4,000 by the end of 2025, down from a previously projected $10,000. 
While Kendrick acknowledged that Ethereum still leads in areas like stablecoins, DeFi and tokenization, he said the Ethereum Foundation may need to consider new economic models, including taxing Layer-2 networks, to reverse the trend.
Absent such measures, Kendrick expects ETH to continue underperforming relative to Bitcoin. He projects ETH-BTC could fall to 0.015 by the end of 2027, marking its weakest level since early 2017.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44402588/xrp-soars-13-after-sec-lawsuit-victory-can-xrp-flip-ethereum">XRP Soars 13% After SEC Lawsuit &#8216;Victory&#8217;: Can XRP Flip Ethereum?</a></li>
</ul>
Image: Shutterstock

$ETH

Coinbase Sold 12,652 ETH, According To Standard Chartered Analysis

SEC Drops Case Against Crypto Exchange Coinbase Global

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