Coinbase (COIN), Microstrategy (MSTR) and Grayscale’s Bitcoin Trust (GBTC) All Soar in Price As Crypto Heats Up

Three stocks associated with digital assets are soaring amid a big jump in Bitcoin (BTC) and crypto markets.

Coinbase (COIN), Microstrategy (MSTR) and Grayscale Bitcoin Trust (GBTC) shares are all soaring after BTC rose over 19% in the last week.

Shares of Coinbase, the largest US-based cryptocurrency exchange, are worth $82.80 at time of writing, up 7.3% in the last 24 hours.

Shares of business intelligence firm MicroStrategy, the largest publicly traded corporate holder of BTC, are trading at $425 at time of writing, up 12.6% in the last 24 hours.

Digital asset manager Grayscale’s Bitcoin Trust (GBTC), which aims to track the price of Bitcoin, is also on the rise, up 5% in the last 24 hours, currently worth $25.96.

In August, Grayscale won a lawsuit victory against the U.S. Securities and Exchange Commission (SEC) over the regulator’s refusal to convert the Grayscale Bitcoin Trust into an exchange-traded fund (ETF).

Yesterday, Grayscale’s victory over the SEC was formally finalized by the courts.

The crypto giant also just filed a new registration statement with the U.S. Securities and Exchange Commission (SEC) in its bid for an ETF.

In a statement, Grayscale said it submitted to the securities regulator a Form S-3 registration statement to register shares of the Grayscale Bitcoin Trust (GBTC) under the Securities Act.

Form S-3 is a simplified form for registering securities with the SEC and can only be used by companies that have satisfied other reporting requirements. The filing is a shorter version of Form S-1 that is filed in anticipation of an initial public offering (IPO).

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