Coinbase Shares Could Surge Over 60% as Trump Ushers in New Crypto Era, Says Bernstein

Bernstein Sees Major Upside for Coinbase Amid Regulatory Clarity, Sets $310 Price Target

Bernstein has initiated coverage on Coinbase (COIN) with an “outperform” rating and a $310 price target, citing improving regulatory conditions and strong market positioning as key growth drivers.

In its report released Monday, the brokerage highlighted Coinbase’s ability to capitalize on the increasing mainstream adoption of crypto in the U.S. As regulatory clarity advances under the Trump administration, the firm sees the exchange benefiting significantly. Despite the optimistic outlook, Coinbase shares slipped 2% to $185.20 in early trading. FactSet data shows that 41% of Wall Street analysts have a buy rating on COIN, while 7% hold a sell rating, and the rest recommend holding.

The report acknowledged that clearer regulations will invite competition from fintech firms, banks, and brokers. However, analysts led by Gautam Chhugani believe that a strong bull market and growing U.S. dominance in digital assets will more than offset any market share dilution or pricing pressure.

The Trump administration has made crypto-friendly policies a focal point, with a stated goal of making the U.S. the “crypto capital of the world.” The Securities and Exchange Commission (SEC) has also taken steps in this direction, forming a dedicated crypto task force under Commissioner Hester Peirce to develop new industry regulations.

Beyond trading, Bernstein praised Coinbase’s ability to diversify its revenue streams. The exchange has built a strong presence in U.S. dollar stablecoins and crypto yield services, including staking. The report projects that non-trading revenues will grow at a 31% compound annual growth rate (CAGR) between 2024 and 2026, helping to stabilize earnings amid the volatility of trading revenues.

Further supporting its global expansion, Coinbase recently secured registration with the Financial Intelligence Unit (FIU), allowing the company to re-enter the Indian market. The exchange announced this milestone in a blog post earlier this month.

With institutional adoption rising and regulatory frameworks becoming more defined, Bernstein sees Coinbase as a prime beneficiary of these developments, reinforcing its bullish stance on the stock.