Bitcoin Hits $80k Again, SEC Eases Tokenized Trading Rules

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

Strategy (formerly known as 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%.

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. This includes dealer registration requirements for liquidity providers, which will also receive a five-year exemption.