Bitcoin Price Reaches ATH? Stock Tokens, $COIN, Bitcoin ETFs Set to Skyrocket BTC price

Bitcoin price after consolidating weeks under the last all time high of $61,742 finally reached $62,000 today. A lot has changed in last few weeks as crypto industry is witnessing highest ever rate of innovation. In this article we will cover a few noteworthy developments that are boosting mouthwatering growth in crypto.

Binance Launches FTX Style Tesla Stock Tokens

The success of tokenized stocks launched by FTX exchange is getting attention from both crypto and wall street giants. Bittrex was the first crypto exchange to follow FTXs tokenized stocks and now Binance has also launched stock tokens. The first stock token launched by Binance is Tesla with ticker TSLA/BUSD and it is already trading at $701.42 at the time of reporting. As reported by Binance these tokens are 100% backed by real Tesla shares and you can trade equity shares using these tokens.

Coinbase Tokenized Stock Trading at $589, Pre-IPO Valuation Skyrockets

Well, Coinbase IPO is definitely the hot topic in crypto as well as wall street at this moment as companies Pre-IPO valuations rising as high as $100 B+. As per the latest data from FTX exchange, the Coinbase’s tokenized stock CBSEUSD is trading at $589 which takes Coinbase valuation to a whooping $150 Billion. Coinbase will be listed at Nasdaq with ticker $COIN tomorrow and as whole financial world awaits.

Total Bitcoin ETF Applicants to SEC reaches 9

Yes, Bitcoin ETFs are no more speculations as a US court judge recently ordered SEC to revert back to VanEck’s Bitcoin ETF application by 1st week of May. As reported by CoinGape, Galaxy Capital a crypto custody firm led by Mike Novogratz is among the recent firm to apply for bitcoin ETF approval to SEC. Recently, Grayscale investments also shared their plans to transform their GrayScale Bitcoin Trust (GBTC) to Bitcoin ETF. The total number of Bitcoin ETF applicants is rising day by day and at the time of reporting 9 firms have already applied for Bitcoin ETF approval.

Did we miss a trend, let us know in your comments below.

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Sunil Sharma

Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on X at @sharmasunil8114 and reach out to him at sunil (at) coingape.com

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