Coinbase surges after Cboe names crypto exchange in bitcoin ETF application

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Coinbase surges after Cboe names crypto exchange in bitcoin ETF application
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Shares of Coinbase , the largest U.S. cryptocurrency platform, jumped 13% on Monday after exchange operator Cboe said it was working with the cypto company in its effort to launch a spot bitcoin exchange-traded fund.

The SEC has rejected dozens of spot bitcoin ETF applications in recent years, saying they did not meet the standards designed to prevent fraudulent and manipulative practices and protect investors. The ETF industry is trying to find a way to address that concern.

Bitcoin was trading at $31, 029, up 1.32% while Ethereum, the world's second-largest cryptocurrency, rose 1.94% to $1,964.Our Standards:Chibuike reports on mostly large U.S.-based private equity firms, including Blackstone, KKR, Carlyle, and Apollo. He previously worked at Bloomberg News, and holds master's degrees in journalism from New York University and Edinburgh Napier University.

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