Piper Sandler sees Robinhood, Galaxy as top picks amid regulation shift

Investing.com02-10 23:11

The U.S. Securities and Exchange Commission's (SEC) newly established Crypto Task Force is expected to provide much-needed regulatory clarity for institutional investors, according to a research note ...

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According to Piper Sandler analysts, the initiative is set to ease regulatory uncertainties that have long deterred institutional players from entering or expanding in the digital asset market.\"Navigating the crypto regulatory landscape under the new SEC leadership should be much smoother and less risky than in the past, Piper Sandler stated in its report. \"This initiative is expected to accelerate the adoption of digital asset initiatives over the coming years.\". Meanwhile, Piper Sandler keeps a positive outlook on Robinhood Markets  and Galaxy Digital , calling them key beneficiaries of the regulatory changes.Summing up, Piper Sandler ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SG9999014013.SGD":"United Global Durable Equities Fund Dis SGD","BK4581":"高盛持仓","BK4504":"桥水持仓","BK4596":"哈里斯概念","HOOD":"Robinhood","COIN":"Coinbase Global, Inc.","LU0345774631.USD":"NINETY ONE GSF AMERICAN FRANCHISE \"A\" (USD) INC","BK4600":"加密货币概念","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU1861217088.USD":"贝莱德金融科技A2","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","BK4112":"金融交易所和数据","LU0106831901.USD":"贝莱德世界金融基金A2","BK4601":"加密货币现货ETF","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","LU1861220207.SGD":"Blackrock FinTech A2 SGD-H","BK4127":"投资银行业与经纪业","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","BK4539":"次新股","BK4554":"元宇宙及AR概念","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU0971096721.USD":"富达环球金融服务 A","LU0477156953.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"RE\" (USD) ACC","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","BK4585":"ETF&股票定投概念","LU1035773651.USD":"AB SICAV I - GLOBAL VALUE PORTFOLIO \"AD\" (USD) INC","BK4594":"比特币ETF概念","LU2360107671.USD":"BGF FINTECH \"A4\" (USD) INC","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","LU1069347547.HKD":"AB SICAV I - GLOBAL VALUE PORTFOLIO \"AD\" (HKD) INC","SCHW":"嘉信理财","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","SG9999014021.USD":"UNITED GLOBAL DURABLE EQUITIES (USDHDG) ACC","BK4535":"淡马锡持仓","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU1791807156.HKD":"BGF WORLD FINANCIALS \"A2\" (HKDHDG) ACC","BK4588":"碎股","SG9999001077.SGD":"United International Growth Fund SGD","LU0130517989.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"R\" INC","BK4551":"寇图资本持仓","BK4589":"SVB概念","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU1153585028.USD":"BGF GLOBAL LONG-HORIZON EQUITY  \"A4\" (USD) INC","SG9999014039.USD":"UNITED GLOBAL DURABLE EQUITIES (USDHDG) INC","SG9999014005.SGD":"United Global Durable Equities Fund Acc SGD"},"translate_title":"Piper Sandler认为Robinhood和Galaxy是监管转变中的首选","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SCHW":1,"HOOD":1,"COIN":1},"content_text":"The U.S. Securities and Exchange Commission's (SEC) newly established Crypto Task Force is expected to provide much-needed regulatory clarity for institutional investors, according to a research note by investment bank Piper Sandler.\nIn a statement last week, SEC Commissioner Hester Peirce outlined ten key priorities for the task force, which she is leading. According to Piper Sandler analysts, the initiative is set to ease regulatory uncertainties that have long deterred institutional players from entering or expanding in the digital asset market.\n\"Navigating the crypto regulatory landscape under the new SEC leadership should be much smoother and less risky than in the past, Piper Sandler stated in its report. \"This initiative is expected to accelerate the adoption of digital asset initiatives over the coming years.\"\nMeanwhile, Piper Sandler keeps a positive outlook on Robinhood Markets (NASDAQ:HOOD) and Galaxy Digital (TSX:GLXY), calling them key beneficiaries of the regulatory changes.\nRobinhood's crypto selection is still pretty limited compared to big players like Coinbase (NASDAQ:COIN) and Kraken, but that could change soon. Analysts expect the platform to add more tokens and roll out new features like staking and lending. \nRight now, Robinhood lets users trade 22 different tokens—way fewer than its crypto-native rivals but still ahead of traditional brokerages like Fidelity and Charles Schwab (NYSE:SCHW), which offer fewer than five.\nPiper Sandler also pointed out a big jump in Robinhood’s crypto trading activity after the U.S. presidential election. Monthly trading volume shot up from an average of $7.8 billion (January-October 2024) to $33.1 billion in November-December 2024. This spike happened right around the time Robinhood brought back major cryptocurrencies like Solana, Cardano, and XRP.\nElsewhere, Piper Sandler expects Galaxy Digital to move up to Nasdaq by the end of 2025. On top of that, the Canadian-listed bitcoin miner is likely to land a major deal with a U.S. hyperscaler, which could give a serious boost to its long-term earnings.\nThe report then delved into Bitcoin’s price cycles, which usually revolve around its \"halving\" events. Since the last halving was around ten months ago, Piper Sandler predicted that Bitcoin’s price could keep climbing for another eight months. If that trend holds, both Robinhood and Galaxy Digital stand to benefit.\nThat said, the report warns of some risks. Regulatory uncertainty, crypto price swings, and rising energy costs could all impact these investments. Robinhood might face hurdles with compliance in retail trading activity, while Galaxy Digital has to navigate counterparty risks and the challenge of getting approvals to expand its mining-to-data-center operations.\nSumming up, Piper Sandler remains bullish on both Robinhood and Galaxy Digital, keeping an Overweight rating on both. The analyst set price targets at $54 for Robinhood and C$42 for Galaxy Digital.\nRelated Articles\nPiper Sandler sees Robinhood, Galaxy as top picks amid regulation shift\nBhad Bhabie Launches $BHAD: A Community Token Built with Purpose\nBitcoin to Get to Several Billion People by 2030, Says Brian Armstrong","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.2","shortVersion":"4.30.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2510637869"}