ChainCatcher reports, according to Coindesk, that British banking giant Barclays has upgraded its rating on Coinbase (COIN) and Robinhood (HOOD) from underweight to equal weight, citing improved business models for both companies.

Barclays analyst Benjamin Budish said both companies have "matured significantly", especially due to the expansion of product offerings and a more positive financial outlook. Coinbase, in particular, could benefit from a more favorable regulatory environment, given the increasingly friendly stance of both presidential candidates toward the digital asset industry and the approval of multiple spot ETFs.