Goldman Sachs backs crypto stocks amid Bitcoin breakout

Goldman Sachs has backed Coinbase and Robinhood shares as Bitcoin’s 26% weekly rally has lifted the cryptocurrency above $80,000 despite an extended decline in market trading volume. Summary Goldman Sachs maintained buy ratings on Coinbase and Robinhood, with targets of $196 and $124. Crypto trading volume fell 30% in July before declining another 21% in August. Goldman disclosed about $86.5 million of exposure across five spot XRP ETFs for the second quarter. Bitcoin reached roughly $81,255 before profit-taking pulled its price back toward $79,000. Goldman Sachs expects crypto activity to recover Goldman Sachs said in its latest Americas Brokerage and Crypto Industry report, circulated on X, that crypto trading volumes dropped 30% in July and another 21% in August. Analysts described the current slowdown as longer than the previous five volume contractions examined by the bank. 🚨 Goldman Sachs Turns Cautiously Bullish on Crypto for H2 2026 Despite trading volumes dropping 30% in July + 21% in August (longer than past cycles), the bank sees potential rebound if market cap holds near $2.8T. Goldman Sachs even increased crypto ETF positions and… https://t.co/uFOip7un77 — Rednirav (@CryptoRednirav) August 25, 2026 Trading activity has fallen by roughly 75% from its recent peak, according to the report. During the past week, however, the total cryptocurrency market capitalization has recovered about 21% to $2.8 trillion. Goldman analysts said trading volumes could begin recovering if the market maintains its current valuation. Rising asset prices can bring more retail and institutional activity to exchanges, providing additional transaction revenue for platforms such as Coinbase and Robinhood. You might also like: Goldman Sachs buys LCN in deal worth up to $410M Although the bank remains cautious about weak volumes, its view of the crypto sector has become more positive for the second half of 2026. The report pointed to stronger token prices, developing US regulations, and new products that allow trading platforms to earn revenue outside conventional spot markets. Regulatory uncertainty remains the most common concern among institutional investors surveyed by the bank. According to Goldman, 35% of respondents identified uncertain rules as the largest barrier to entering the market, while 32% named regulatory clarity as the main catalyst that could encourage adoption. Recent developments in Washington have addressed parts of that concern. The Securities and Exchange Commission has proposed Regulation Crypto Assets, a framework covering certain investment contracts involving digital assets. As previously reported by crypto.news, the proposal includes one exemption allowing qualifying startups to raise up to $5 million over four years. A separate route would permit eligible issuers to raise as much as $75 million during a rolling 12-month period. The SEC framework also includes disclosure requirements and a conditional safe harbor.