Ethereum's rally and a new SEC tokenization exemption drive gains for crypto-linked stocks, led by a 6% jump in Coinbase and Bitmine shares.
Coinbase jumped 6% as the SEC order opens a regulated tokenized-stock pathway, and Coinbase already runs tokenized equity offerings abroad.
Ethereum extended its rally after the SEC order opened a regulated pathway for tokenized U.S. stocks, interpreted as future demand for public settlement infrastructure.
Bitmine's stock rose 6% as Ethereum's rally increased the value of its Ethereum treasury.
The iShares Ethereum Trust ETF rose 3.3% to $20.57, tracking Ethereum's rally.
SharpLink rose 5% tracking Ethereum's rally as a second Ethereum-treasury proxy.
SPY is up 0.7% as a broader market benchmark, while crypto-linked equities climb by several percent.
Ethereum surged 5.7% to $2,727 following an SEC order establishing a regulated pathway for tokenized U.S. stocks. This development triggered a rally in crypto-linked equities, with Coinbase and Bitmine both climbing 6% as investors bet on the future of on-chain financial infrastructure.
While the SEC order did not explicitly name any blockchain, the market interpreted the move as a catalyst for future demand for public settlement infrastructure, where Ethereum currently holds a dominant position.