Shares of Coinbase and Robinhood rose in pre-market trading on news of the SEC approving the first US bitcoin ETFs. Coinbase was up 5.2% and Robinhood gained 3.8%. Investors see the ETF approval as lending more credibility and legitimacy to the cryptocurrency industry and asset class, which has been volatile. Coinbase CEO Brian Armstrong said in an interview this is a "monumental step" for crypto and acknowledges it is here to stay, after over a decade of Americans using it without full government approval.
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00:00 It's Benzinga and here's what's on the block.
00:02 Shares of Coinbase and Robinhood rose in pre-market trading on news of the SEC approving the first US Bitcoin ETFs.
00:08 Coinbase was up 5.2% and Robinhood gained 3.8%.
00:13 Investors see the ETF approval as lending more credibility and legitimacy to the cryptocurrency industry and asset class, which has been volatile.
00:21 Coinbase CEO Brian Armstrong said in an interview that this is a monumental step for crypto and
00:27 acknowledges it is here to stay after over a decade of Americans using it without full government approval.
00:32 Coinbase had a strong 2021, rising 391.4% over the year.
00:38 Robinhood also jumped over 56% last year as crypto grew in popularity among retail traders.
00:43 For all things money, visit Benzinga.com.
00:45 [BLANK_AUDIO]