Goldman Sachs Recommends Buying Coinbase and Robinhood After the -46% Crash
📋 En bref (TL;DR)
- Goldman Sachs recommends buying Coinbase (COIN) and Robinhood (HOOD) after a 46% crash in crypto stocks since October 2025.
- Price targets: Coinbase at $235 (+30-47%) and Robinhood at $91 (+28-30%) — both rated “Buy”.
- Bitcoin may have bottomed according to Goldman Sachs analyst James Yaro, after a 47% correction from the $126,000 record.
- Goldman holds $2.36 billion in crypto ETFs and diversified into XRP and Solana in early 2026.
- Fear & Greed Index at 9/100 — “extreme fear” level comparable to historic market bottoms.
- Key takeaway: when Goldman Sachs says “buy” during a bear market, history shows these are often the best entry points.
Goldman Sachs Sees the Crypto Market Bottom
In a note published on March 26, 2026, Goldman Sachs analyst James Yaro estimates that crypto prices “may have hit their bottom” and identifies several crypto stocks with “attractive setups” after a 46% crash.
The investment bank maintains its buy recommendations on Coinbase (COIN) with a $235 target and Robinhood (HOOD) with a $91 target. A third stock, Figure Technologies (a blockchain lending company), receives a raised target of $42.
This signal is all the more significant as it comes amid extreme market fear. The crypto Fear & Greed Index has fallen to 9 out of 100 — its lowest level since October 2025. Historically, these panic levels have often corresponded to favorable entry points for medium-term investors.
The 46% Crash Explained
Since their October 2025 peak, crypto-related stocks have lost an average of 46% of their value, dragged down by Bitcoin‘s fall from $126,000 to approximately $67,000.
The causes of this correction are multiple:
- Trade war: 100% US tariffs on Chinese imports triggered a global macroeconomic shock
- Geopolitical tensions: escalation of the US-Iran conflict fueled risk aversion
- Hawkish Fed: rate expectations have shifted — the market now prices in a 50% probability of rate hikes by end of 2026, versus four cuts expected in late 2025
- Nasdaq correction: on March 27, the Nasdaq suffered a $17 trillion correction, dragging crypto stocks down with it
The damage is spectacular. MicroStrategy (MSTR) lost up to 77-80% from its November 2024 peak. Coinbase fell from $444 to around $170. Robinhood dropped 51%. Miners like MARA Holdings and Riot Platforms lost over 50%.
Why Goldman Is Betting on Coinbase and Robinhood
Goldman Sachs sees the decline in Coinbase and Robinhood as a buying opportunity based on their solid fundamentals and upcoming growth catalysts.
Coinbase (COIN) — Target $235
Despite a $718 million depreciation on its crypto portfolio in Q4 2025, Coinbase has $11.3 billion in cash and launched a $2 billion share buyback program in January 2026. Its growth drivers include:
- The acquisition of Deribit, the leading crypto derivatives platform
- USDC growth, with adoption accelerated by the GENIUS Act legislation
- Development of the Base platform (Layer 2 on Ethereum)
- Expansion into prediction markets, stock trading, and wealth management
Robinhood (HOOD) — Target $91
Robinhood benefits from its diversification beyond crypto trading. Goldman highlights its expansion into banking services, advanced features for active traders, and a massive user base. Its lower dependence on the crypto cycle compared to Coinbase reduces downside risk.
James Yaro does temper expectations: if crypto trading volumes remain low, these companies’ 2026 revenues could decline by 2% and earnings by 4%. But according to Goldman’s historical analysis, periods of rock-bottom volumes last an average of 3 months before a significant rebound.
Goldman Sachs: $2.36 Billion in Crypto
Goldman Sachs doesn’t just recommend crypto to its clients — the bank itself holds $2.36 billion in crypto ETFs, making it one of the largest institutional investors in the sector.
According to early 2026 13F filings:
- $1.1 billion in Bitcoin ETFs (primarily BlackRock IBIT)
- $1 billion in Ethereum ETFs
- $261 million in XRP and Solana ETFs — a recent diversification beyond the BTC/ETH duo
In December 2025, Goldman acquired ETF issuer Innovator Capital for $2 billion, a move that could enable it to launch its own proprietary crypto ETFs — similar to Morgan Stanley with the MSBT.
CEO David Solomon himself revealed holding “a little” Bitcoin personally at the World Liberty Forum in February 2026. He stated that traditional finance and crypto are now “part of the same evolving system,” with tokenization set to play a central role.
Key Takeaways for Investors
Goldman Sachs’s buy signal arrives during extreme fear (Fear & Greed at 9/100), which historically corresponds to the best entry points in crypto markets.
Three key lessons:
1. Institutional validation is accelerating. When Goldman Sachs, Morgan Stanley, and JP Morgan compete to launch Bitcoin ETFs and recommend crypto stocks, the message is clear: major financial institutions are permanently integrating crypto into their offerings.
2. Bear markets don’t last forever. Goldman estimates that rock-bottom crypto volumes last an average of 3 months. The market has already corrected 47% from its October peak. Historical cycles suggest a rebound is brewing.
3. Investing in crypto stocks is not the same as investing in crypto. Buying COIN or HOOD means betting on companies — with their revenues, management, and specific risks. For direct Bitcoin or Ethereum exposure, a non-custodial wallet or a spot ETF remains preferable.
Glossary
- Bitcoin (BTC): The first decentralized cryptocurrency, a digital store of value with supply capped at 21 million units.
- Ethereum (ETH): A programmable blockchain platform for smart contracts and DeFi. Second-largest crypto by market cap.
- ETF (Exchange-Traded Fund): An exchange-traded index fund. A spot Bitcoin ETF physically holds Bitcoin and replicates its performance.
- Blockchain: A distributed, immutable digital ledger that records transactions transparently and in a decentralized manner.
- Layer 2: A scalability solution built on top of a main blockchain for faster and cheaper transactions.
- Solana (SOL): Ultra-fast blockchain (65,000 TPS) with near-zero fees, known for its DEX and gaming ecosystem.
- Wallet: A digital wallet for storing and managing cryptocurrencies. A non-custodial wallet gives the user exclusive control over private keys.
- Fear & Greed Index: A crypto market sentiment indicator, from 0 (extreme fear) to 100 (extreme greed). Used to identify excessive panic or euphoria.
Frequently Asked Questions
Can you buy Coinbase or Robinhood shares from Europe?
Yes, Coinbase (COIN) and Robinhood (HOOD) shares are listed on the Nasdaq and accessible from Europe through a standard brokerage account with your broker (Degiro, Trade Republic, Interactive Brokers, etc.).
Has Bitcoin really hit its bottom?
Goldman Sachs estimates that prices “may have” reached a bottom, but acknowledges that volumes could still decline. The Fear & Greed Index at 9/100 signals extreme fear, historically correlated with market bottoms. Nobody can predict the exact bottom — hence the value of DCA (dollar-cost averaging).
What's the difference between buying COIN stock and buying Bitcoin?
Buying Coinbase stock (COIN) means investing in the Coinbase company — its revenue, management, and products. Buying Bitcoin means directly owning the cryptocurrency. The two don’t react the same way: COIN has a beta of 3.7 (amplifies market movements).
Why have crypto stocks crashed 46%?
The decline combines several factors: Bitcoin falling from $126,000 to $67,000 (-47%), trade war (100% tariffs on China), US-Iran tensions, Fed leaning toward rate hikes, and a massive Nasdaq correction (-$17 trillion). Crypto stocks, highly correlated with BTC, amplify these movements.
Does Goldman Sachs invest in crypto itself?
Yes, Goldman Sachs holds $2.36 billion in crypto ETFs (Bitcoin, Ethereum, XRP, Solana). CEO David Solomon revealed he personally owns Bitcoin. The bank also acquired ETF issuer Innovator Capital for $2 billion to launch its own crypto products.
Sources
- CNBC — Goldman Sachs says crypto prices may have bottomed and names stocks with attractive setups.
- Bitcoin.com News — Goldman Sachs Signals Bitcoin Bottom, Flags Attractive Crypto Stock Setups.
- 24/7 Wall St. — Goldman Sachs Sets COIN Target at $235.
- CoinDesk — Crypto stocks battered as Nasdaq enters correction.
- Yahoo Finance — Goldman Sachs CEO reveals personal Bitcoin investment.
How to cite:
Fibo Crypto. (2026). Goldman Sachs Recommends Buying Coinbase and Robinhood After -46% Crypto Crash. Retrieved from https://fibo-crypto.fr/en/blog/goldman-sachs-coinbase-robinhood-buy-crypto-crash
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