Bitcoin Rallies Past $84,000 as SEC Tokenisation Decision Lifts Digital Assets

Bitcoin climbed above $84,000 on Monday as cryptocurrency markets extended their recovery following a US regulatory decision allowing eligible platforms to trade tokenised equities under specified conditions.

The digital asset rose 4.9% to $84,371.90 by 05:30 ET (09:30 GMT), taking its gains over the preceding week to approximately 5%.

The rebound followed a period of volatility in which Bitcoin dropped below $76,000 after the Federal Reserve raised interest rates last week.

Lower oil prices and encouraging developments in US-China trade discussions also contributed to improved sentiment across financial markets.

SEC Grants Five-Year Exemption for Tokenised Stock Trading

The US Securities and Exchange Commission (SEC) announced a temporary five-year exemption on Thursday, permitting qualifying trading venues to facilitate transactions in tokenised US stocks through blockchain-based platforms.

The exemption is subject to conditions intended to maintain investor protections while supporting financial innovation.

The announcement increased expectations that blockchain infrastructure could play a larger role in trading traditional financial assets.

Cryptocurrency-related equities responded with substantial gains on Friday. Coinbase (NASDAQ:COIN) rose 12%, Strategy (NASDAQ:MSTR) advanced 16% and Robinhood (NASDAQ:HOOD) gained 9%.