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The US Securities and Exchange Commission (SEC) approved exchange-traded funds (ETFs) directly investing in Bitcoin has injected fresh momentum into <a href="https://news.todayq.com/crypto-stocks-beat-bitcoin/" target="_blank" rel="noopener noreferrer nofollow">crypto-linked stocks</a>. This decision has been a game changer for the $1.7 trillion digital asset market. However, this move will widen access to the leading crypto within Wall Street and beyond. Coinbase bags big 
The SEC’s approval extends to funds managed by industry giants like BlackRock Inc., Invesco Ltd., and smaller players such as Valkyrie. Cryptocurrency stocks experienced robust gains during the premarket session in New York.
Notable performers include the shares of <a href="https://news.todayq.com/ark-invest-sells-more-coinbase-shares-ahead-of-btc-etf-decision/" target="_blank" rel="noopener noreferrer nofollow">Coinbase Global</a> Inc., a prominent cryptocurrency exchange, and mining companies like Cleanspark Inc. and Marathon Digital Holdings Inc. Coinbase, emblematic of crypto-equity, marked a 5% increase, building on its remarkable near-250% gains over the past 12 months.
Bitcoin price is hovering near $46,000, and witnessed a surge of over 160% in the past year, driven by the anticipation of regulatory approval and the potential for looser monetary policies. While cryptocurrency stocks were already on an upward trajectory before the SEC’s decision, a momentary selloff occurred due to a false posting on the regulator’s X account that preceded the official announcement.
Looking ahead, Coinbase is set to play a pivotal role in guiding major asset management firms, including BlackRock, Franklin Templeton, and WisdomTree, into the digital asset ecosystem as their preferred custodial partner.&nbsp; What’s next for COIN? 
Custody revenue presents significant growth prospects for Coinbase in the short term, but concerns among analysts loom over potential risks to the company’s core transaction business. The myriad ways investors can now access Bitcoin, including through stock and bond ETFs, raise uncertainties about Coinbase’s future market share.
In 2023, Coinbase’s stock emerged as one of the top performers in the tech industry, witnessing an almost 400% surge. This rally, closely tied to Bitcoin’s 150% increase, was also fueled by the excitement surrounding the anticipation of new ETFs boosting interest in crypto.
Bitcoin price regained $47,000 after the SEC approved ETFs, prompting traders to assess potential inflows into these products. Other major cryptocurrencies displayed mixed performances, with Ether, the second-largest token, standing out with a 9% advance to $2,587.&nbsp;
Market observers speculated on whether Bitcoin might experience a pullback after the green light for spot ETFs if speculators decide to secure profits from the token’s months-long advance.
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Coinbase, other crypto stocks soar after SEC greenlights Bitcoin ETFs

Todayq News

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