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COINBASE GLOBAL, INC.

(COIN)
  Report
Delayed Nasdaq  -  04:00 2022-09-30 pm EDT
64.49 USD   +4.12%
09/29Insider Buy: Coinbase Global
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09/29Coinbase Global Shares Decline After Wells Fargo Initiates Coverage at Underweight
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09/29SS&C Technologies Collaborates With Coinbase to Expand Crypto Trading Options
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BlackRock launches spot bitcoin private trust for U.S. clients

08/11/2022 | 09:49am EDT
FILE PHOTO: Traders work on the floor of the NYSE in New York

(Reuters) - BlackRock Inc, the world's biggest asset manager, has launched a spot bitcoin private trust for institutional clients in the United States, according to a blog post on its website.

The trust will track the performance of bitcoin, offering direct exposure to the price of the digital currency, BlackRock said.

"Despite the steep downturn in the digital asset market, we are still seeing substantial interest from some institutional clients in how to efficiently and cost-effectively access these assets," the company said.

The move comes a week after cryptocurrency exchange Coinbase Global Inc said it had partnered with BlackRock to provide its institutional clients with access to crypto trading and custody services.

The latest developments underscore how traditional institutions including pension funds, hedge funds and banks have been pushing into crypto assets lately, wagering the alternative asset class is here to stay.

Even as, the crypto sector has been battered by a slump in asset prices as investors fled risky assets amid geopolitical turmoil, inflation and worries of an impending recession.

(Reporting by Noor Zainab Hussain in Bengaluru)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BITCOIN (BTC/EUR) -0.54% 19714.2 End-of-day quote.-53.10%
BITCOIN (BTC/USD) -0.57% 19314 End-of-day quote.-59.54%
BLACKROCK, INC. -2.42% 550.28 Delayed Quote.-39.90%
COINBASE GLOBAL, INC. 4.12% 64.49 Delayed Quote.-74.45%
All news about COINBASE GLOBAL, INC.
09/29Insider Buy: Coinbase Global
MT
09/29Coinbase Global Shares Decline After Wells Fargo Initiates Coverage at Underweight
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09/29SS&C Technologies Collaborates With Coinbase to Expand Crypto Trading Options
MT
09/29SS&C Partners with Coinbase to Expand Digital Asset Trading
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09/29Wells Fargo Starts Coinbase Global at Underweight With $57 Price Target
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Analyst Recommendations on COINBASE GLOBAL, INC.
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Financials (USD)
Sales 2022 3 368 M - -
Net income 2022 -2 628 M - -
Net cash 2022 2 222 M - -
P/E ratio 2022 -5,54x
Yield 2022 -
Capitalization 14 520 M 14 520 M -
EV / Sales 2022 3,65x
EV / Sales 2023 2,94x
Nbr of Employees 3 730
Free-Float 77,1%
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Technical analysis trends COINBASE GLOBAL, INC.
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TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Last Close Price 64,49 $
Average target price 93,92 $
Spread / Average Target 45,6%
EPS Revisions
Managers and Directors
Brian Armstrong Chairman & Chief Executive Officer
Emilie Choi President & Chief Operating Officer
Alesia J. Haas Chief Financial Officer
Fred Ernest Ehrsam Independent Director
Frederick R. Wilson Lead Independent Director