Bernstein Sees Crypto Equities Bottoming Out

Bernstein analysts suggest that crypto-related equities, including Coinbase and Robinhood, may be nearing a bottom, particularly as the first quarter earnings season approaches. This outlook comes despite significant weekly outflows from US Bitcoin ETFs, which have disrupted a four-week streak of global crypto fund inflows. The firm notes that these stocks are currently trading at substantial discounts, indicating a potential buying opportunity for investors. The divergence between ETF flows and equity valuations highlights a complex market dynamic.