Coinbase shares surge as agreements for spot bitcoin ETFs are confirmed
Coinbase shares rose as much as 11% amid confirmation that trading giant Cboe would rely on the crypto exchange to surveil market manipulation for proposed exchange-traded funds to be listed on its venue.
Cboe on Tuesday submitted amendments for five proposed spot bitcoin ETFs to say that it has “reached an agreement on terms” with Coinbase to enter into surveillance sharing agreements.
Shares were up 9.9% to $89.25 at 1:11 p.m. in New York, according to TradingView.
Source: TradingView
Tuesday’s rally adds to gains clocked in by the crypto exchange since the beginning of the year, which ratcheted up after BlackRock announced it would file for a spot bitcoin ETF. The firm’s stock is up 144% since the beginning of the year.
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Author: Frank Chaparro
