Coinbase shares increased by as much as 11% on Tuesday following Cboe amended filings for proposed spot bitcoin ETF funds in order to confirm a surveillance deal with the cryptocurrency exchange.
Shares of Coinbase shot up as much as 11% after it was announced that trading giant Cboe would use the cryptocurrency exchange to track market manipulation for proposed exchange-traded funds that would be listed on its platform.
In five proposed spot bitcoin ETFs, Cboe on Tuesday submitted revisions stating that it has “reached an agreement on terms” with Coinbase to join into surveillance sharing agreements.
At 1:11 p.m. in New York, shares were up 9.9% to $89.25, according to TradingView.
The cryptocurrency exchange has seen increases since the start of the year, and those gains accelerated after BlackRock announced it will apply for a spot bitcoin ETF. Tuesday’s rally adds to those gains. The company’s stock has increased 144% since the start of the year.