Why Coinbase Stock Is Rising Today

Coinbase Global, Inc. COIN shares are trading higher Thursday amid a rise in the price of Bitcoin.

What To Know: Coinbase, a Bitcoin-related stock, gained Thursday in response to Bitcoin's rising price. The price of Bitcoin has risen over 3% during the past five days. Prior to the recent gains in Bitcoin, the price of the cryptoasset had dropped, hitting a one-month low on Monday and dragging shares of Coinbase down alongside it.
Before the recent price action, at the end of August, Coinbase and other crypto-related stocks popped in response to a report suggesting the US federal appeals court ruled the SEC was wrong to reject Grayscale's spot bitcoin ETF application.
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COIN Price Action: Shares of COIN were up 3.75% at $82.86 at the time of publication, according to Benzinga Pro.
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