Robinhood’s (HOOD) Bitstamp Deal Is Strategic And Brings Added Institutional Exposure: Bernstein

Exchanges supply a variety of companies akin to staking, stablecoins, buying and selling, custody and prime broking, the observe stated. The acquisition of Bitstamp probably permits Robinhood to supply a wider vary of crypto merchandise to a extra institutional consumer base. Bernstein has an outperform score on Robinhood inventory with a $30 worth goal. The shares had been little modified in early buying and selling on Friday at round $23.