Bitcoin Hits $80k Again, Boosting Crypto Stocks Amid New Tokenization Rules

Crypto-related stocks soared on Friday as Bitcoin reclaimed the $80,000 level and investors responded to a new US regulatory framework for tokenized stocks.

The US Securities and Exchange Commission (SEC) announced a five-year exemption that allows certain platforms to facilitate trading in blockchain-based or tokenized stocks and other securities.

Strategy (MSTR), which gained about 12%, Coinbase Global, up 10%, Galaxy Digital, +7%, Circle Internet Group, +6%, and Robinhood Markets, +7.5% all rose sharply on the news.

The exemption, known as the 'Innovation Exemption', provides tokenized securities venues with a five-year exemption from certain rules that apply to traditional stock exchanges, including the Nasdaq and New York Stock Exchange.

SEC Chairman Paul Atkins said the Innovation Exemption is intended to facilitate on-chain trading of certain tokenized stocks while maintaining investor protections and market integrity standards.