Cryptocurrency watchlist

In fact, many published reports considered the SEC's decision something of a reluctant fait accompli.In October 2023, the SEC chose not to appeal a federal court ruling saying it had been wrong to reject an investment firm's application to create spot bitcoin ETFs. The SEC has long been skeptical of cryptocurrencies, with multiple agency leaders concerned the market is too volatile, investor protections are inadequate, and regulations are insufficient. Still, many saw the handwriting was on the wall and that SEC approval was inevitable. In 2023, Coinbase's stock was one of as explained here the top performers in the tech industry, soaring almost 400%. Much of that rally was tied to bitcoin, which increased 150%. But part of the outperformance relative to bitcoin was due to the excitement that new ETFs would drive more interest in crypto and be a boon for Coinbase.