Coinbase Shares Soar with Bitcoin's Historic Breakthrough

Coinbase shares rose by 5.25% to $204.44 on Monday morning, following Bitcoin's surge above $85,000.

The price increase came as other crypto-linked stocks also moved higher, including Strategy (NASDAQ: MSTR), Robinhood Markets (NASDAQ: HOOD), and Webull (NYSE: BULL).

Coinbase was in focus beyond the broader crypto rally, as it expanded its IPO access for eligible U.S. customers and navigated a new SEC exemption that established a regulatory framework for certain tokenized-stock trading venues.

The exemption provides temporary relief from the definition of an exchange for qualifying Tokenized Securities Venues using permissioned automated market makers and liquidity pools. However, it does not amount to specific approval for Coinbase to operate a U.S. tokenized-stock venue.