Coinbase, a prominent cryptocurrency exchange, saw its shares rise by approximately 6% as a result of growing optimism about the approval of a bitcoin spot ETF. This development is considered significant for Coinbase, which has been involved in legal disputes with the U.S. Securities and Exchange Commission (SEC) in Manhattan federal court. Coinbase, as one of the largest cryptocurrency custodians, has been selected by various prospective ETFs, including BlackRock’s proposed Bitcoin ETF, to serve as the custodian for their digital assets. The approval of a Bitcoin spot ETF could positively affect Coinbase’s business.
Coinbase Shares Surge