Citi identifies Circle and Bullish as top crypto stocks through year-end

Citi has identified Circle (CRCL) and Bullish (BLSH) as promising crypto-related stocks through the end of the year. Citi analyst Peter Christiansen noted a rebound in the crypto market during the third quarter, with institutional ETF flows shifting to net inflows. Investor interest is expanding beyond crypto prices to infrastructure related to stablecoins, tokenization, custody, and settlement. Christiansen highlighted that Circle, the issuer of USDC, could expand into payments, settlement, and tokenized asset issuance using its own blockchain, Arc. Bullish, an institutional crypto exchange, is expected to gain a strong position in the tokenized equities market following its acquisition of Equinity, which would provide access to Equinity’s corporate issuer clients and shareholder registry management system. Citi rates both stocks as buy, with 12-month price targets of 243 dollars for Circle and 50 dollars for Bullish.

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