Bernstein Says Crypto Stocks Are Near a Bottom, Remains Bullish on Tokenization
Bernstein believes asset tokenization and onchain finance are gradually connecting traditional capital markets with the crypto ecosystem, positioning platforms such as Coinbase, Robinhood and Figure as potential major beneficiaries. Although related stocks have fallen sharply in recent months, their long-term growth case remains intact, putting the question of whether prices have bottomed in focus for investors.
Ahead of first-quarter earnings, Bernstein said crypto-related stocks may be near a bottom and have become more attractive investments at current levels. The firm lowered its price targets for Coinbase, Robinhood and Figure to account for pressure on first-quarter results, but remained bullish on tokenization and expects all three companies to retain growth momentum through 2027.
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The history behind this eventBernstein Calls 60% Crypto-Stock Rout a Rare Buying Opportunity
Crypto-related stocks have fallen about 60% from their October 2025 peak. Over the same period, Bitcoin dropped 40% to 50% from its record high of nearly $126,000, while the total digital-asset market shed about $2 trillion in value. Bernstein said short-term geopolitical risks and market sentiment were obscuring long-term growth opportunities in stablecoins, asset tokenization, prediction markets and derivatives.
Bernstein said on March 30, 2026, that the stocks were nearing a bottom ahead of first-quarter earnings and maintained its Outperform ratings on Coinbase, Robinhood and Figure. It cut its respective price targets to $330 from $440, to $130 from $160 and to $67 from $72. The shares were trading at about $165.50, $67.10 and $31.14 at the time. Bernstein also maintained its year-end Bitcoin target of $150,000.
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