Following the recent rebound of Bitcoin, the encryption concept unit has again received Wall Street attention. Goldman Sachs maintained its buy-in rating for Coinbase and Robinwood and stated that, if current market valuations were to be maintained, the number of months of low-intensity transactions was expected to pick up.

Keep the target price up.

Goldman Sachs mentioned in its report that the volume of encrypted transactions has remained weak in the recent past and has clearly fallen back on its high point. The monthly turnover ratio declined 30 per cent and continued to decline 21 per cent in August. However, the total market value of the encryption market has rebounded about 21 per cent over the past week, returning to $2.8 trillion, and the upturn in currency prices was seen as helping to attract the bulk family and institutions back on the scene and to improve the transaction revenue from the trading platform.

In one case, Goldman Sachs maintains buy-in ratings for Coinbase Global and Robinson Markets. Of these, Coinbase ' s target price was raised from $173 to $196 and Robinwood ' s target price was $124.

New business support platform revenue

According to Goldman Sachs, this determination is based not only on the possibility of a warmth in a spot-encrypted transaction, but also on the recent expansion of the business of the two companies. The report mentions that new products such as monetized stocks, forecast markets, and durability contracts are providing off-the-shelf sources of income for trading platforms.

Coinbase has recently continued to move forward with the “All Power Exchange” layout, adding event contracts and time-based forecasting markets, and expanding derivatives operations to reduce reliance on spot transaction fees. Citing earlier data, the report states that Coinbase’s forecast market operations are on line for less than two months and that annualized revenues have reached $100 million.

Robinhood is also expanding its forecast market operations and promoting products related to monetized securities. In July, the company launched Robinhood Chain, based on the Ether Layer 2, for monetized shares and other financial assets. Qualified users can trade the relevant products outside the normal US share trading time.

XRP ETF Re-emergence

In addition to the equity ratings, Goldman Sachs re-disclosed the holding of the XRP spot ETF in the second quarter. According to its 13F document, Goldman Sachs held a total of approximately $86.5 million in five XRP spot ETFs, involving Franklin Templeton, Bitwise, Canary Capital, 21 Shares and Grayscale.

Goldman Sachs disclosed at the end of 2025 that it held four XRP funds, totalling approximately $153.8 million, but that the XRP and Solana ETF holdouts were no longer shown in the 2026 first quarter document. This disclosure indicates that the bank again held the relevant products as at the end of June, but that the 13F document reflects only part of the end-of-quarter multi-heading position of the United States, which does not determine whether it is making a directional bet or whether it is a customer or bank-owned account.

Bitcoin up to $81,000.

At the market level, bitcoin has risen by about 26 per cent over the past week, to US$ 81,255 at one time and then to around US$ 79,000 for profit. The rebound in value-led encrypted-related stocks has also helped to restore the digital asset market from previous reversals.

It was reported that the increase was associated with the expansion of the United States long-term national debt buy-back and the fall in returns, which underpinned the risk assets. At the same time, Trump renewed his appeal to Congress to move forward with the CLARITY Act, which has also brought new policy catalysts to the encryption market.

The bill proposes to specify whether part of the digital assets should be supervised by the United States Securities and Exchange Commission or the Commodity Futures and Exchange Commission. The Senate ' s procedural vote was scheduled for 15 September, and differences over arrangements for the stabilization of currency incentives, consumer protection and the encryption interests of public officials remained.

Additional information:Markets are also waiting for price index data for personal consumption expenditure in the United States. The data are the Fed’s preferred inflation indicator, which may affect the rate of return on United States debt and interest rate expectations, thus affecting the performance of Bitcoin and the US-owned encryption concepts of Coinbase, Robinwood and others.