Coinbase shares jump 12% to around $194 after SEC innovation exemption, Baird says it narrows gap with Robinhood
AI Market Summary
The SEC's five-year "Innovation Exemption" enabling limited trading of tokenized U.S. stocks on blockchains is interpreted as a regulatory tailwind, narrowing the product gap between Coinbase and traditional brokerages like Robinhood. The news drove a sharp rally in Coinbase shares and may improve near-term sentiment across U.S. crypto-linked equities by reducing uncertainty around onchain securities experimentation, despite broader legislative delays.
Impact level
● High
Affected assets
NCSKCOIN2USD/USDT+10.02%
AI Insight · NCSKCOIN2USD/USDTAI Insight
▲ Bullish
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The U.S. SEC issued an “Innovation Exemption” that allows platforms to trade certain tokenized U.S. stocks on blockchains for five years. SEC Chair Paul Atkins said the move is intended to help bring U.S. capital markets into the digital age. Baird analyst Robert Bamberger said the exemption is a positive for Coinbase, making its asset-class offerings more comparable to Robinhood’s. Coinbase shares rose 12% on Friday afternoon to around $194, though Wall Street’s average target price of $201.31 implies about 4% upside.
