Why These 2 Crypto-Related Stocks Soared Today
Crypto catalysts and bullish retail momentum send shares of Coinbase and Robinhood surging.
Two major crypto-linked stocks, Coinbase (NASDAQ: COIN) and Robinhood Markets (NASDAQ: HOOD), rocketed higher on Tuesday as regulatory wins, bullish investor sentiment, and strong trading data converged into a perfect storm. By the closing bell, Coinbase had soared 12.1%, while Robinhood tacked on a 7.41% gain, both hitting new 52-week highs and igniting investor buzz across Wall Street and social media.
Coinbase Blasts Higher on European Green Light and Tokenization Hopes
Coinbase stole the spotlight, leading the S&P 500 (SPX) after surging to $344.82, fueled by multiple bullish developments. The biggest catalyst? Regulatory clarity in Europe. The company secured a Markets in Crypto-Assets (MiCA) license from Luxembourg, making it the first U.S.-based crypto exchange authorized under the EU’s new framework. The approval allows Coinbase to legally offer crypto services across all 27 European Union member states.
That move positions Coinbase for serious international expansion, a fact not lost on traders. But the momentum didn’t stop there.
Coinbase also made waves with its application to the U.S. Securities and Exchange Commission (SEC) to offer tokenized stocks and bonds, a move that Wall Street increasingly views as the future of financial markets. Barclays analysts highlighted benefits like “faster settlement times” and “back-office cost savings”, while Coinbase’s legal chief, Paul Grewal, called the initiative a “huge priority” in an interview with Reuters.
Adding fuel to the fire, Ark Invest’s Cathie Wood increased her position in COIN by 1,519 shares, bringing the firm’s total investment to over $159 million, or 7.82% of its assets. That show of confidence reverberated throughout the market, with retail traders and institutions alike following suit.
Traders also cheered macroeconomic relief. President Trump’s announcement of a “Complete and Total Ceasefire” between Israel and Iran removed a major geopolitical overhang. Meanwhile, Fed Chair Jerome Powell reassured markets with a dovish tone, reinforcing a “wait-and-see” approach to interest rates.
Those factors helped drive Bitcoin (BTCUSD) back above $106,000, with Ethereum (ETHUSD) gaining 15% and XRP (XRPUSD) jumping past $2.15, a sharp rebound that rippled through crypto-related equities.
Robinhood Rallies on Explosive Growth and Insider Confidence
Not to be outdone, Robinhood Markets also had a breakout session, climbing 7.41% to $82.01, just shy of its all-time high.
Momentum began building late last week when CEO Vlad Tenev introduced a suite of platform upgrades during a livestream. Highlights included AI-powered trading tools, simplified options execution, and simulated return projections, features that resonated with the company’s large millennial and Gen Z user base.
Then came Tuesday’s bombshell: Robinhood launched a crypto deposit match program, offering users up to 2% back on net crypto deposits through July 7. The promotional push, designed to boost engagement and crypto activity, triggered renewed interest among retail investors.
At the same time, Ark Invest doubled down on Robinhood, purchasing 319,640 shares worth over $25 million. The move signaled clear institutional support and followed other notable activity in the fintech sector by Ark.
Perhaps most significant, Director Christopher Payne purchased $2 million worth of Robinhood stock, marking the first insider buy in company history. According to SEC filings, the move came as another co-founder, Baiju Bhatt, sold over $31 million in shares. But instead of spooking the market, the contrasting trades were interpreted as routine rebalancing by Bhatt and an emphatic vote of confidence by Payne.
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Trading Volume and Growth Metrics Paint Bullish Picture
Robinhood’s fundamentals also impressed. The company recently reported 25.9 million funded accounts, up 1.8 million from last year, and $255 billion in assets under custody, an 89% jump year-over-year. Crypto trading volumes rose 65% to $11.7 billion, while equity volume doubled and options contracts increased by 36%.
Even margin balances surged, hitting $9 billion, and securities lending revenue climbed 43% to $33 million for the month of May alone.
With this strong performance, Robinhood has now rallied over 200% in the past year, despite being left out of the S&P 500’s recent reshuffling, an omission that stung, but clearly didn’t slow its upward trajectory.
Crypto Stocks Look Recharged
Coinbase and Robinhood both entered Tuesday with momentum, but the day’s events added rocket fuel. Regulatory clarity in Europe, tokenization initiatives in the U.S., insider buying, bullish analyst upgrades, and positive macro signals all came together at once.
For Coinbase, the combination of institutional trust and global expansion paints the picture of a company reclaiming its spot as a leader in both crypto and traditional finance. For Robinhood, the rally reflects explosive user growth, strategic innovation, and confidence at the top.
While volatility remains part of the crypto stock story, this week’s price action shows that when sentiment turns bullish, these stocks can soar.
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