Nasdaq to Launch Coinbase’s COIN Options Trading Starting Today
Options on Coinbase Global Inc would start trading on Nasdaq options exchanges starting today.
Less than a week after the largest cryptocurrency exchange in the US went public, the equity options on the stock will be launched. This would offer investors yet another way to bet on Coinbase.
On Wednesday, Coinbase made the high-profile debut that briefly valued it at over $100 billion. On the day, the COIN shares were worth as much as $430 at one point but are currently down 22.5% as it trades around $319.35.
During the first day of trading, as we reported, Coinbase CEO Brian Armstrong sold about $292 million in shares in total, which is less than 2% of his entire holdings. Armstrong sold these shares in three batches of 749,999 each at prices ranging from $381 to $410.40 per share.
COIN has been very popular among the general public. It was actually the most bought across the retail clients of UBS for three consecutive days, as per John Street Capital. With a total 3-day inflow of $410 million, it was the largest 3-day period of inflows by a company only after Jack Ma’s Alibaba (BABA) initial public offering (IPO).