Coinbase (COIN) shares witnessed a sharp rise of 12%, reaching around $344.65 as of June 24, 2025. This increase was driven by a combination of several key events.
Coinbase Stock Surge
Coinbase shares closed at $344.65, up $37.06 from the previous close of $307.59. The major factor behind this surge was Ark Invest's recent purchase of 1,519 Coinbase shares. Currently, the company holds over $159 million in Coinbase stock, representing 7.82% of its total assets.
Impact on Cryptocurrency Market
Additionally, U.S. President Donald Trump's announcement of a 'Complete and Total Ceasefire' between Israel and Iran positively affected global markets, leading to a rise in cryptocurrency prices. For instance, Bitcoin rose above $106,000, Ethereum jumped by 15%, and XRP increased by over 6%, surpassing the $2.15 mark. This positive sentiment contributed to the rise in cryptocurrency values, subsequently boosting Coinbase stock.
MiCA License and Its Significance
Coinbase also recently secured a MiCA license from Luxembourg's financial authority, making it the first U.S.-based exchange approved under the EU's new cryptocurrency regulations. This allows Coinbase to offer its services across all EU countries, helping expand its business in Europe.
In conclusion, Coinbase stock surged as a result of multiple positive developments, reflecting high investor interest in the company and its business operations in the international market.
