Coinbase Launches SpaceX Pre-IPO Perpetual Futures for Non-US Customers
COIN is trading near its 52-week low of $139.36 (8.8% above the low).
Summary
Coinbase is launching perpetual futures contracts for non-U.S. customers, offering exposure to pre-IPO shares of SpaceX. This new product expands Coinbase's derivatives offerings and targets a growing market for private company equity exposure, providing a positive development following recent news of Q1 losses and workforce reductions. Separately, ARK Innovation ETF made a modest purchase of 30,763 COIN shares, indicating some institutional interest.
At the time of this announcement, COIN was trading at $151.56 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $40.2B. The 52-week trading range was $139.36 to $444.65. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.