Weak Bitcoin ETF flows impacting analyst sentiment on Coinbase & MicroStrategy. Recent outflows: approx $154.2M. Average current flows at $54.8M. Coinbase analysts: Buy rating, price target $385.13, with varying views - caution grows. Monness, Crespi, Hardt upgraded Coinbase to Buy with $375 target. Balancing views based on ETF flows.

The relationship between Bitcoin ETF flows and analyst coverage of crypto-exposed equities like Coinbase Global Inc. (COIN) and Strategy Inc. (MSTR) is being closely monitored on Wall Street. Bitcoin ETPs witnessed net outflows of $154.2 million on December 12, with the iShares Bitcoin Trust seeing $2.7 billion in outflows over the past five weeks. Daily net inflows during Bitcoin's previous rally hit $500 million to $1 billion, but now average just $54.8 million, indicating weakened institutional demand. Analyst views on Coinbase vary, with 26 maintaining a Buy rating and an average price target of $385.13, although some, like Barclays, have expressed caution by reducing price targets due to valuation concerns. Monness, Crespi, Hardt upgraded Coinbase to Buy, citing its infrastructure positioning and diversified revenue streams. Increased Bitcoin ETF inflows boost trading activity on Coinbase's platform, while negative flows have the opposite effect.