During the initial half of 2023, Coinbase shares experienced a significant surge, rocketing over 30% this week as Nasdaq and Cboe refiled spot bitcoin exchange-traded fund (ETF) applications on behalf of numerous fund managers. The revisions highlighted that, upon ETF approval, Coinbase has been asked to serve as a surveillance-sharing agreement (SSA) collaborator.
Coinbase Stock Rockets Over 30% as ETF Managers Choose It as Surveillance-Sharing Partner
Coinbase (Nasdaq: COIN) observed a 30.82% increase in its shares throughout the past week, and six-month data reveals that COIN has jumped 131% against the U.S. dollar. Despite this substantial growth, the firm’s shares remain down 79% from their all-time peak.
On September 30, 2021, COIN’s value was $319 per share; currently, it stands at $79.93. This recent upswing likely stems from multiple ETF managers applying for a spot bitcoin ETF and designating Coinbase as their funds’ SSA associate. Nasdaq and Cboe performed this action
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