Coinbase stated that the COIN.O options will start trading on Nasdaq on Tuesday, April 20

As reported by Reuters, a Coinbase spokesman stated that the Nasdaq exchange will begin offering trading options to Coinbase Global (COIN). Expected trading will be available from April 20, 2021.

Nasdaq is set to start trading options for Coinbase Global

Less than a week after the largest crypto exchange in the US gets listed, Nasdaq will initiate trading options for Coinbase Global.

The launch of equity options will provide a new way for investors to bet on Coinbase’s fortunes. A share option represents the right, but not the obligation, to buy or sell stock at a certain price, called the strike price, on or before the expiration date.

The news followed Coinbase’s live listing, which saw the company’s shares fluctuate between a valuation of $ 429.54 and $ 310 on the first day of trading. Even so, the stock has fallen 22.5% from a high of $ 429.54 on April 14 to its current after-hours trading price of $ 332.75, where it appears to have stabilized after. trading session on Monday.

Reuters estimates that Coinbase CEO Brian Armstrong sold about $ 292 million in shares during the first trading day of COIN. According to a filing with the Securities and Exchange Commission of the United States, Armstrong sold 749,999 shares three times with prices ranging from $ 381 to $ 410.40 per share with the total proceeds of 291.8 million. However, this figure only accounts for less than 2% of the total number of shares he holds.

Insiders dumped nearly $ 5 billion in COIN shares shortly after it was listed. Records on Coinbase’s Investor Relations website show a total of 12,965,079 shares were sold by insiders, worth more than $ 4.6 billion at COIN’s $ 344 share price at the end of the day. Six.

On April 20, Coinbase Pro announced that it would add support for new trading pairs for the Basic Attention Token (BAT), Cardano (ADA), Decentraland (MANA), and USDC from April 20th. The asset will be paired with three fiat currencies (USD, EUR, GBP), BTC, and ETH, with limited transaction functionality provided while market liquidity is assessed at launch.

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