Why Coinbase Stock Is Rising Monday
Portfolio Pulse from Erica Kollmann
Coinbase Global, Inc. (NASDAQ:COIN) shares are trading higher after Cboe Global Markets, Inc. refiled Bitcoin (CRYPTO: BTC) ETF proposals and indicated it would work with Coinbase to prevent market manipulation. Cboe resubmitted an application with the SEC seeking approval for a Bitcoin ETF managed by Fidelity Investments. Coinbase shares are trading more than 10% higher on heavy volume with more than 18 million shares traded already on Monday.
July 03, 2023 | 4:50 pm
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POSITIVE IMPACT
Coinbase shares are trading higher after Cboe refiled Bitcoin ETF proposals and indicated it would work with Coinbase to prevent market manipulation.
The news of Cboe refiling Bitcoin ETF proposals and planning to work with Coinbase to prevent market manipulation is directly related to Coinbase and is likely to have a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100