As of the time of this writing, a lot of different equity options are going to be made available for Nasdaq regarding COIN stock. This news comes only one week following the United States’ biggest crypto exchange had been listed. As of right now, Nasdaq is getting ready to initiate trading options that are going to be made available for Coinbase global.
Equity options to bring a new way of betting on fortunes
According to a report that was filed by Reuters on April 19th, a Coinbase representative had claimed that COIN.O options would be made available for the purposes of trading on Nasdaq today.
This launch of the equity options will supposedly be bringing about a new pathway towards betting on fortunes regarding Coinbase itself. However, it should be stated that while the equity options may represent the right, they will not be representing the obligation to either sell or buy a specific stock at a particular price. This price is also known as the strike price, and it can occur either before or on the respective expiration date.
Although this had occurred following the direct listing of Coinbase on Nasdaq, it had still resulted in the firm’s stock going back and forth between a total valuation of almost $430 and then dropping to just about $310 on the initial trading day.
It had been estimated that Brian Armstrong, a Coinbase top executive, had managed to sell about $292 million the first day. Also, as per the filings and reports were given by the SEC, Armstrong had sold off almost 750,000 of his shares in 3 batches. These sales had been made by Armstrong at different prices, which had ranged from $410 to $381 per share. The overall proceeds had been $291.8 million. It should be pointed out that this amount is nevertheless not even 2% of the overall holdings for Armstrong.
Coinbase Pro to add BAT, ADA and others
In related news, Coinbase pro had made it clear that it will be adding support for a bunch of other coins, such as ADA, BAT, MANA, as well as USDC. This will be done later today.
Furthermore, these four cryptocurrencies will also be pairing up with three fiat currencies, namely GBP, USD, and EUR, although with restricted functionality. The reason for the limitation in functionality is due to the need for the market liquidity to be assessed and analyzed at launch.