Coinbase surges after Cboe names crypto exchange in bitcoin ETF application

By Chibuike Oguh
FILE PHOTO A representation of the cryptocurrency is seen in front of Coinbase logo in this illustration taken March 4 2022. REUTERSDado RuvicIllustrationFile Photo

FILE PHOTO: A representation of the cryptocurrency is seen in front of Coinbase logo in this illustration taken, March 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

NEW YORK (Reuters) - Shares of Coinbase, the largest U.S. cryptocurrency platform, jumped 13% on Monday after exchange operator Cboe said it was working with the cypto company in its effort to launch a spot bitcoin exchange-traded fund.

Cboe on Friday refilled an application with the U.S. Securities and Exchange Commission (SEC) to launch a bitcoin exchange-traded fund by asset manager Fidelity. In that filing it named Coinbase as the crypto platform that would help the exchange police manipulation in the ETF.

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