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Coinbase shares surge 14% as Grayscale ETF ruling takes effect
Shares of cryptocurrency exchange Coinbase surged about 14% Tuesday morning as optimism about a long-awaited bitcoin spot ETF approval buoyed the stock. It was a key deadline for the company, which has been sparring with the Securities and Exchange Commission in Manhattan federal court. Shares of Grayscale’s Bitcoin Trust also surged in Tuesday morning trading by nearly 7%. Grayscale saw a victory formalized in federal appeals court Monday, when a judge’s mandate that the SEC review the company’s Bitcoin ETF proposal took effect. Coinbase’s stock price, which was also lifted by that finalized decision, often ... (full story)