{"id":30559,"date":"2023-10-18T18:02:13","date_gmt":"2023-10-18T18:02:13","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/10\/18\/bitcoin-etf-may-be-a-limited-benefit-for-coinbase-stock-barclays\/"},"modified":"2023-10-18T18:02:13","modified_gmt":"2023-10-18T18:02:13","slug":"bitcoin-etf-may-be-a-limited-benefit-for-coinbase-stock-barclays","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/10\/18\/bitcoin-etf-may-be-a-limited-benefit-for-coinbase-stock-barclays\/","title":{"rendered":"Bitcoin ETF may be a \u2018limited\u2019 benefit for Coinbase stock: Barclays"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/piggybank-olru6x88cgI-unsplash-1-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/piggybank-olru6x88cgI-unsplash-1-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/piggybank-olru6x88cgI-unsplash-1-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/piggybank-olru6x88cgI-unsplash-1-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/><img decoding=\"async\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2023\/04\/piggybank-olru6x88cgI-unsplash-1.jpg\" alt=\"coinbase stock price forecast barclays analyst\" width=\"100%\" height=\"100%\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Mike Novogratz expects SEC to approve a Spot Bitcoin ETF this 12 months.<\/li>\n<li>Barclays analyst doesn&#8217;t anticipate that to be a large benefit for Coinbase.<\/li>\n<li>Coinbase inventory is at present down over 30% versus its year-to-date excessive.<\/li>\n<\/ul>\n<p>Mike Novogratz \u2013 the Chief Executive of Galaxy Investment Partners expects the Securities &amp; Exchange Commission to approve a Spot <a href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin-etf\/\">Bitcoin ETF<\/a> by the tip of this 12 months.<\/p>\n<h2>Here\u2019s what Mike Novogratz mentioned in the present day on CNBC<\/h2>\n<p>Last week, the U.S. regulator kept away from interesting a court docket\u2019s ruling that mentioned it didn&#8217;t have enough motive to dam Grayscale from changing its flagship belief to an exchange-traded fund.<\/p>\n<p>Note that Galaxy itself has filed for a Spot Bitcoin ETF in collaboration with Invesco. On CNBC\u2019s \u201c<a href=\"https:\/\/www.cnbc.com\/video\/2023\/10\/18\/bitcoin-has-always-been-an-instrument-that-is-sold-not-bought-galaxy-digital-ceo.html\" target=\"_blank\" rel=\"noopener\">Squawk Box<\/a>\u201d, Novogratz mentioned in the present day:<\/p>\n<blockquote>\n<p>Dialogue with SEC is heading in proper route. It is now not speaking how Bitcoin works. It\u2019s simply a recognised macro asset and that\u2019s a large psychological shift.<\/p>\n<\/blockquote>\n<p>The billionaire investor expects a optimistic information on the ETF entrance to steer the market increased. Still, Barclays is just not totally satisfied that it&#8217;ll be a materials catalyst for <a href=\"https:\/\/coinjournal.net\/news\/tag\/coinbase\/\">Coinbase Global Inc<\/a>.<\/p>\n<h2>Barclays analyst shares his view on Coinbase inventory<\/h2>\n<p>Analyst Benjamin Budish informed purchasers in a analysis word in the present day on Wednesday that approval of a Spot Bitcoin ETF will doubtless be a \u201climited\u201d benefit for <a href=\"https:\/\/coinjournal.net\/exchanges\/coinbase\/\">Coinbase<\/a>.<\/p>\n<blockquote>\n<p>It is just not clear how profitable ETF launches would translate into a significant P&amp;L benefit for Coinbase regardless of it being an integral service supplier.<\/p>\n<\/blockquote>\n<p>He agreed that the Nasdaq-listed agency will function custodian for 4 BTC exchange-traded funds (at the very least) however mentioned it&#8217;s unlikely to earn vital custodial and prime brokerage charges.<\/p>\n<p>Barclays has an \u201cunderweight\u201d score on Coinbase inventory with a worth goal of $70 that implies one other 6.0% draw back from right here. Earlier this week, <a href=\"https:\/\/www.youtube.com\/watch?v=mz7fV3o9Qe0\" target=\"_blank\" rel=\"noopener\">Cathie Wood<\/a> \u2013 the Founder of Ark Invest additionally took a optimistic tone on a Spot Bitcoin ETF approval.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this text<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/coinbase-stock-price-forecast-barclays-analyst\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Mike Novogratz expects SEC to approve a Spot Bitcoin ETF this 12 months. Barclays analyst doesn&#8217;t anticipate that to be a large benefit for Coinbase. Coinbase inventory is at present down over 30% versus its year-to-date excessive. Mike Novogratz \u2013 the Chief Executive of Galaxy Investment Partners expects the Securities &amp; Exchange Commission to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21162,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[4],"tags":[6305,321,20,465,939,680,1388],"class_list":["post-30559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market","tag-barclays","tag-benefit","tag-bitcoin","tag-coinbase","tag-etf","tag-limited","tag-stock","entry","has-media","owp-thumbs-layout-horizontal","owp-btn-normal","owp-tabs-layout-horizontal","has-no-thumbnails","has-product-nav"],"_links":{"self":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/30559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/comments?post=30559"}],"version-history":[{"count":1,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/30559\/revisions"}],"predecessor-version":[{"id":30560,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/30559\/revisions\/30560"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media\/21162"}],"wp:attachment":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media?parent=30559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/categories?post=30559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/tags?post=3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