Coinbase Goes Full "Everything Bagel" Exchange, Analyst Says Hold My $270 Target 🥯

Coinbase held an event Tuesday unveiling a slate of new products spanning tokenized equities, options trading for both crypto and stocks, and consumer-finance features, prompting Benchmark-StoneX Managing Director and Senior Research Analyst Mark Palmer to reiterate a $270 price target on COIN—roughly 60% above Tuesday's closing price above $169. "The ambition on display was sweeping enough to put every brokerage, bank, and fintech in the country on notice," Palmer wrote. "The company unveiled a suite of products spanning stocks, derivatives, artificial intelligence, and consumer finance, extending the strategy it first announced last December and pushing the platform well beyond crypto into every asset class it can reach."

The largest announcement was upcoming tokenized U.S. equities, which Coinbase described as 1:1-backed shares with automatic dividend payouts, a structure the company distinguished from rival tokenized stock products it characterized as derivatives. Coinbase also disclosed plans to launch options trading for both crypto and traditional equities, alongside the ability for users to transfer existing stock portfolios onto its platform. Additional features include borrowing against staked Solana, a Coinbase One Card travel portal offering 5% Bitcoin rewards, USDC-backed card access, and new short-term crypto price-prediction contracts.

Palmer framed the update as evidence of a strategic shift at the publicly traded exchange. "In our view, the company's update yesterday provided the clearest evidence yet that it is rapidly evolving from a cyclical crypto brokerage into a foundational infrastructure platform linking the emerging on-chain economy to the traditional one," he wrote. COIN was recently trading just above $169, roughly flat on the day, down 13% over the past month and 25% year to date amid broader declines across crypto markets. Coinbase reported a second consecutive quarterly loss of $394 million in Q1 2026 and announced in May that it would cut 14% of its staff while leaning more on AI to boost efficiency.

In a separate market move, UNI, the governance token of decentralized exchange Uniswap, surged double digits over the past 24 hours to a local high of $3.70, its highest level in over a month, before pulling back slightly at time of publication.