Coinbase rises 3.74% as SEC opens path to tokenized stocks

Coinbase rose 3.74% to $170.40 on Thursday morning after the U.S. Securities and Exchange Commission opened a pathway for blockchain-based trading of U.S. stocks. The rebound followed a 10.1% decline triggered when the Senate failed to advance the CLARITY Act on 15 September and the Federal Reserve raised interest rates by 25 basis points on 16 September.

On 17 September, the SEC issued two conditional, five-year exemptions allowing select blockchain trading venues and liquidity providers to facilitate trading in tokenized representations of U.S. stocks. The framework takes effect immediately. Eligible stock tokens must provide the same rights as underlying shares, including voting rights and dividends. Issuers must receive 30 days of advance notice and hold the right to object to tokenization.

Other crypto-linked equities also recovered on Thursday. Circle gained 4.2% to $83.81 after an 11.5% drop, Robinhood rose 3.25% to $107.12 following a 3.4% slide, and Strategy gained 5.22% to $133.00 after losing 5.4%. In digital assets, Bitcoin traded near $76,560 with a 1.1% gain after slipping below $76,000, Ether climbed 2.6% to roughly $2,457, and Solana advanced 3.2% to about $100.36.