Bitcoin Hits $80k Again, Crypto Stocks Surge on New Tokenization Rules

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

The Strategy (formerly MicroStrategy) MSTR gained about 12%, while MARA Holdings rose 9%. Coinbase Global surged 10%, Galaxy Digital and Circle Internet Group each gained 7% and 6% respectively, while Robinhood Markets added 7.5%.

BTC climbed more than 5% to move above $80,000 for the first time in two weeks.

The gains came after the US Securities and Exchange Commission announced a five-year exemption that allows certain platforms to facilitate trading in blockchain-based or tokenized stocks and other securities. The SEC's new '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.