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Coinbase shares jump 10% day after Nasdaq debut

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Coinbase Global Inc shares jumped 10% in early trades on Thursday, a day after the cryptocurrency exchange went public in a high-profile debut on the Nasdaq that briefly valued it at more than $100 billion.

The debut marks another milestone for bitcoin and other digital assets and comes amid a surge in the value of cryptocurrencies that has lured a clutch of mainstream, top-tier firms.

Cathie Wood’s Ark funds bought $246 million worth of Coinbase shares in the debut on Wednesday, according to the firm’s daily trade summary.

Coinbase shares were up 10.3% at $362 by 4:42 a.m. ET.

 

(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Shounak Dasgupta)

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SourceReuters

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