Here's Fidelity Growth Strategies Fund's Views on Coinbase Global (COIN)

Fidelity Investments, an investment management company, recently released its “Fidelity Growth Strategies Fund” second-quarter 2025 investor letter. A copy of the letter can be downloaded here. The Fidelity Growth Strategies Fund is a diversified domestic equity strategy with a focus on mid-cap growth investments. The fund focuses on investing in high-quality companies that demonstrate consistent growth and generate positive free cash flow. The fund’s Retail Class shares returned 22.74% in the second quarter, underperforming the 18.20% return of the benchmark Russell Midcap Growth Index. U.S. mid-cap growth stocks saw strong gains in Q2, bouncing back from a brief decline in early April following President Trump's tariff announcement. In addition, you can check the fund’s top 5 holdings to know its best picks in 2025.

In its second-quarter 2025 investor letter, Fidelity Growth Strategies Fund highlighted stocks such as Coinbase Global, Inc. (NASDAQ:COIN). Based in New York, New York, Coinbase Global, Inc. (NASDAQ:COIN) offers a platform for crypto assets. The one-month return of Coinbase Global, Inc. (NASDAQ:COIN) was 0.71%, and its shares gained 60.38% of their value over the last 52 weeks. On September 25, 2025, Coinbase Global, Inc. (NASDAQ:COIN) stock closed at $306.69 per share, with a market capitalization of $78.8 billion.

Fidelity Growth Strategies Fund stated the following regarding Coinbase Global, Inc. (NASDAQ:COIN) in its second quarter 2025 investor letter:

"Conversely, an underweight in Coinbase Global, Inc. (NASDAQ:COIN), a position that was not in the portfolio at the start of Q2 but which we added during the quarter, was the largest relative detractor. In May, the U.S. Senate introduced the GENIUS Act, which aims to create a regulatory framework for ensuring the stability of digital assets. The potential for regulatory clarity in the cryptocurrency industry – along with sharply rising prices for bitcoin – helped Coinbase Global's stock gain 104% the past three months."

Coinbase Global, Inc. (NASDAQ:COIN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 87 hedge fund portfolios held Coinbase Global, Inc. (NASDAQ:COIN) at the end of the second quarter, up from 66 in the previous quarter.  While we acknowledge the potential of Coinbase Global, Inc. (NASDAQ:COIN) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

In another article, we covered Coinbase Global, Inc. (NASDAQ:COIN) and shared the list of stocks Jim Cramer shed light on. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.