Amid the increasing interest in digital currencies, three stocks related to this sector have experienced a significant rise. These stocks are Coinbase (COIN), Microstrategy (MSTR), and Grayscale Bitcoin Trust (GBTC), all of which have seen their values increase as crypto heats up.
The Impressive Rise of COIN, MSTR, and GBTC
The recent surge in Bitcoin (BTC) value, which increased by over 19% in the past week, has fueled the growth of these three stocks. Coinbase, the leading cryptocurrency exchange in the U.S, saw its shares rise by 7.3% in the last 24 hours, valued at $82.80 at the time of writing.
MicroStrategy, a business intelligence company and the largest publicly traded corporate holder of BTC, saw its shares increase by 12.6% in the last 24 hours, trading at $425 at the time of writing. Lastly, Grayscale Bitcoin Trust (GBTC), a digital asset manager aiming to track Bitcoin’s price, also experienced a 5% rise in the last 24 hours, with its current value standing at $25.96.
Grayscale’s Legal Victory
In August, Grayscale achieved a significant legal victory against the U.S. Securities and Exchange Commission (SEC). The SEC had previously denied Grayscale’s request to convert its Bitcoin Trust into an exchange-traded fund (ETF), a decision that was overturned by the courts. This victory over the SEC was officially confirmed by the courts recently.
Grayscale’s Future Plans
Following this victory, Grayscale announced its plans to file a new registration statement with the SEC. The company plans to submit a Form S-3 registration statement to register the shares of its Bitcoin Trust (GBTC) under the Securities Act. This form is a simplified version of the Form S-1, typically filed ahead of an initial public offering (IPO).
For those who want to keep track of these developments and more in the crypto market, cryptoview.io is a helpful tool. This application provides an easy and efficient way to monitor the ever-changing landscape of digital currencies.
Stay ahead of the game with cryptoview.io. Sign up today!
