Bitcoin surges above $60,000 as Coinbase stock market float receives green light from US regulators

Largest US crypto exchange Coinbase gets SEC approval to list on Nasdaq. Coinbase has been valued privately at around $68billion

Bitcoin surged above $60,000 today after US regulators approved the stock market listing of Coinbase, the largest US cryptocurrency exchange.

The landmark decision from the Securities and Exchange Commission (SEC) is a major boon to the legitimacy of cryptocurrencies and helped Bitcoin edge closer to its all-time high of over $61,000 achieved last month.

Bitcoin rose by more than 2 per cent to $60,103 this morning, from Thursday’s close of $58,728, before settling back at around $59,000 in afternoon trading on Friday.

Last night, Coinbase – which made a regulatory filing to go public in February – said that the SEC had approved its application to list in New York.

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The company, which has been valued privately at around $68billion, expects its shares to start trading on the Nasdaq on 14 April.

It plans to go public through a ‘direct’ listing rather than an initial public offering, or IPO.

Read more: Daily Mail