Coinbase shares surge after wide range of ETF partnerships revealed

COIN was surging Monday after it was revealed that it has partnerships with a wide-range of ETF issuers each vying for a spot bitcoin fund.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Coinbase was trading up more than 12% midday EDT, buoyed by headlines that the crypto exchange is partnering with Fidelity and other issuers on their proposed spot bitcoin exchange-traded funds.

The gains added to a broader rally that's pushed the stock up more than 138% since the beginning of the year. Monday's gains outpaced the broader crypto market, with bitcoin trading up just 1.37% at the time of writing.Coinbase made headlines June 30 when asset management giant Fidelity resubmitted its filing for a spot bitcoin ETF. The firm said that Coinbase would work with it to help monitor manipulation in the spot market.

Equities trading giant Cboe refiled Fidelity's application after the SEC raised concerns that its original filing was not sufficient because it did not reveal the exchange with which it had a market surveillance agreement. Cboe also refiled listing applications for VanEck, WisdomTree and Invesco, naming Coinbase in the filings.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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