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Coinbase Shares Surge Following News of Wide Range of ETF Parternships

Katie Lin

Summary: According to reports by The Block, Coinbase's stock price surged over 12% during midday ET. This was attributed to the news that Coinbase was collaborating with Fidelity and other issuers to launch a spot Bitcoin exchange-traded fund (ETF), according to reports by The Block. This increase contributed to a broader rally that has pushed the stock ...

According to reports by The Block, Coinbase's stock price surged over 12% during midday ET. This was attributed to the news that Coinbase was collaborating with Fidelity and other issuers to launch a spot Bitcoin exchange-traded fund (ETF), according to reports by The Block. This increase contributed to a broader rally that has pushed the stock up by more than 138% since the beginning of this year. 

Coinbase made headlines on June 30 when asset management giant Fidelity resubmitted its application for a spot Bitcoin ETF. Fidelity stated that Coinbase would work with them to monitor manipulation in the spot market.

Author: Katie Lin

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