Bitmine and Coinbase Rise as Ethereum Gains on SEC Tokenization Order
Ethereum extended its rally by nearly 6% following a U.S. Securities and Exchange Commission (SEC) order that created a regulated pathway for tokenized representations of publicly traded stocks, effective immediately. The move has boosted crypto-linked equities such as Bitmine Immersion Technologies (BMNR), which rose 6%, Coinbase Global (COIN), up 6%, and Sharplink (SBET), gaining 5%. While the SEC's five-year exemption does not explicitly name Ethereum or any blockchain, traders are interpreting it as a sign of future demand for on-chain settlement infrastructure—much of which is currently built on Ethereum. Coinbase appears best positioned to benefit from the order since it already offers tokenized equity services abroad. However, its long-term gains depend on whether these offerings expand into U.S. markets. Bitmine's stock movement is more indirectly tied to market expectations rather than a direct regulatory link. The broader S&P 500 ETF (SPY) also rose slightly, but crypto-linked stocks outperformed the index.
Topics: Bitmine Coinbase Ethereum SEC regulation SharpLink tokenized stocks