Coinbase Stock Options Trading Rolls Out on Nasdaq

Share Article
In Brief
  • Options on Coinbase Global stock set to trade on April 20.

  • More options available for investors to bet on Coinbase.

  • COIN stock currently priced at $331.

  • promo

    Gravity Dex Protocol: Bringing DeFi to Cosmos

The Trust Project is an international consortium of news organizations building standards of transparency.

Options on Coinbase Global Inc (COIN.O) are scheduled to trade on the Nasdaq exchanges beginning on April 20, 2021.

Sponsored



Sponsored

The initiation of equity options on the newly public Coinbase stock will provide another way for investors to wager on the fortunes of the San Francisco-based cryptocurrency exchange. 

Equity options are another way for investors to interact with the market. They offer the trader the right, but not the hard-set obligation to purchase or sell a stock at a specific amount, also referred to as the “strike price,” before they expire. 

Sponsored



Sponsored

This announcement comes less than a week after the initial listing of the U.S.’ largest crypto exchange. During the first day of public trading, the Coinbase market cap briefly crossed $100 billion.

At the time of press, the stock is trading at $331 in pre-market. Despite the fluctuations in price, this is higher than the initial pre-listing $250 reference point set by Nasdaq a week ago.  

On the first day of trading, Coinbase CEO Brian Armstrong sold almost $300 million in shares. According to data from the U.S Securities and Exchange Commission (SEC), Armstrong sold 749,999 shares over three sessions while the share prices ranged from $381 to $410.40. This equates to roughly $1.5% of his stake in the company. 

Also of note is the ARK investment group’s purchase of $68 million in COIN shares on top of its initial $246 million buy. 

Coinciding with the timeline of Coinbase going public, Bitcoin reached a new all-time high of $64,854. 

The attention from the mainstream media and those in the investment space has seemingly attracted new investors and encouraged others in the crypto space to go public. With the new public listing, equity options, and the additional book orders on Coinbase Pro, the company continues to set milestones and take large strides within the crypto industry. 

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Sponsored
Share Article

Savannah Fortis is a multimedia journalist covering stories at the intersection culture, international relations, and technology. Through her travels she was introduced to the crypto-community back in 2017 and has been interacting with the space since.

Follow Author

Market signals, studies and analysis! Join our Telegram Today!

Go

Market signals, studies and analysis! Join our Telegram Today!

Go

Market signals, studies and analysis! Join our Telegram Today!

Go