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Investing.com - William Blair has reiterated its Outperform rating on Coinbase Global Inc. (NASDAQ:COIN), currently valued at $77.61 billion, as the cryptocurrency exchange continues to build what the firm calls "the most complete, versatile, and hardened crypto platform." According to InvestingPro data, the stock has delivered a solid 21.66% return year-to-date.
The research firm notes that Coinbase shares are currently trading 32% below their 52-week high, while bitcoin is only down about 10% from its peak. This discrepancy comes as the market processes Coinbase’s soft but anticipated second-quarter trading volume and increased infrastructure investments. Want deeper insights? InvestingPro offers 13 additional exclusive tips for Coinbase investors.
William Blair views these investments as consistent with Coinbase’s strategy to maintain leadership in the rapidly evolving cryptocurrency market. The firm specifically points to elevated IPO activity in the crypto industry as evidenced by recent SEC filings.
The research firm recommends that long-term investors "aggressively accumulate" Coinbase shares, describing it as "the crypto rising-tide-lifts-all-boats stock" in the sector.
According to William Blair, Coinbase’s competitors lack comparable scale, market share, technology, and diverse revenue drivers, which include stablecoins, staking, and subscription and custody services.
In other recent news, Coinbase Global, Inc. has completed its acquisition of the crypto options exchange Deribit for $2.9 billion. This acquisition positions Coinbase as a comprehensive crypto derivatives platform, with Deribit reporting record trading volumes in July 2025, exceeding $185 billion. The acquisition will also contribute to Coinbase’s third-quarter financial results, with Deribit’s transaction revenues from mid-August to the end of September included. Following this development, Barclays (LON:BARC) has raised its price target for Coinbase stock to $365 from $352, maintaining an Equalweight rating. Additionally, Coinbase has filed a prospectus supplement to register the resale of nearly 11 million shares of Class A common stock by certain stockholders. This move fulfills obligations under a previous share purchase agreement. Meanwhile, Deribit, a subsidiary of Coinbase, plans to launch USDC-settled linear options for bitcoin and ether, driven by strong institutional and retail demand. These developments highlight Coinbase’s strategic expansion in the cryptocurrency market.
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