Goldman Sachs Boosts Buy Ratings for Coinbase and Robinhood Amid Bitcoin Surge

Goldman Sachs has reaffirmed its 'buy' ratings for Coinbase and Robinhood, citing recent growth drivers beyond traditional spot cryptocurrency trading. The bank raised price targets for both companies amid a 26% weekly increase in Bitcoin's value, pushing it above $80,000. This surge follows a period of decline in crypto trading volume, with July seeing a 30% drop and August a further 21% decrease.

Despite this volatility, Goldman Sachs expects trading activity to recover if the market cap holds near $2.8 trillion. The bank highlighted regulatory progress and new product expansions by Coinbase and Robinhood as key growth drivers. These include tokenized stocks and prediction markets, which demonstrate a move beyond traditional spot trading.

Goldman Sachs has also increased its exposure to XRP ETFs and plans to expand crypto-linked asset management products, indicating cautious optimism for the sector in the second half of 2026.