Coinbase’s stock experienced a significant surge on Aug. 29 after reports emerged that a federal judge had ruled in favor of Grayscale in their SEC legal dispute. In the final moments of the trading session on Tuesday, Aug.29, the value of COIN stood at $85.13 per share, marking an increase of over 15% over the previous day’s close.The verdict, perceived as a victory for the cryptocurrency sector by investors, fuelled hopes of the potential arrival of a Bitcoin ETF in the financial landscape. Coinbase, the largest cryptocurrency exchange in the United States, has been chosen as the potential custodian and partner for sharing surveillance data to mitigate market manipulation risks and ensure the secure storage of the Bitcoin supporting the fund’s shares.At present, only cryptocurrency ETFs linked to futures contracts, enabling investors to speculate on future digital asset prices, are accessible within the United States. BlackRock, the world’s largest asset manager, joined numerous prominent applicants in June, vying for SEC approval. CEO Larry Fink noted strong demand from clients for cryptocurrency exposure.As of the time of writing, Bitcoin was priced at $27,982 per coin, marking a more than 7% increase in the past 24 hours, according to Coinmarketcap data. Despite this, the largest cryptocurrency by market capitalization remains significantly lower, nearly 60%, compared to its November 2021 peak of $69,044.

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Information	Details
Geography	North America
Countries	🇺🇸 🇨🇦
Sentiment	neutral
Relevance Score	8
People	Bitcoin Trust, Larry Fink, Grayscale, SEC, Bitcoin ETF.
Companies	Bitcoin Trust, Coinmarketcap, BlackRock, Grayscale, U.S. Securities and Exchange Commission, Coinbase, Nasdaq
Currencies	Ethereum, US Dollar, Bitcoin, USD Coin, NADA Protocol Token
Securities	None