TLDR
- Robinhood stock jumped 5% in pre-market trading, briefly hitting $100.60
- Coinbase surged 9.6% in early trading after closing up 10% on Wednesday
- President Trump urged Congress to pass the Clarity Act at a White House crypto summit
- Bitcoin rose 11% to $71,755, its highest level since early June
- On-chain tokenized equity trading has already hit $9 billion in 2026, up over 800% year-to-date
Robinhood and Coinbase shares pushed higher on Thursday after President Donald Trump called on Congress to pass the Clarity Act, a bill that would regulate Bitcoin and other cryptocurrencies as commodities rather than securities.
Robinhood rose 5% in pre-market trading, touching $100.60. Coinbase climbed 9.6% in early trading, following a 10% gain the day before. Strategy, a major Bitcoin investor, was also up 5%.
The moves came after Trump met with crypto industry executives at the White House on August 19 and publicly backed the legislation. The Clarity Act is set for a procedural vote on September 15.
Bitcoin climbed 11% over 24 hours to reach $71,755, its highest price since early June, according to Dow Jones Market Data.
Robinhood CEO Makes the Case for Tokenization
Robinhood’s gains were also driven by its own CEO. Vlad Tenev published a widely read piece on August 18 calling on U.S. regulators to create a clear framework for tokenized equities.
Tenev argued that the U.S. risks losing the next generation of financial market infrastructure to overseas competitors. He described the current moment as the early innings of a global tokenization supercycle.
He also called the Clarity Act a meaningful step toward building a durable crypto foundation in the United States.
Tokenized equity trading on-chain has already reached $9 billion in 2026, a gain of more than 800% year-to-date. That growth has helped position Robinhood as a potential leader in that space.
Crypto Stocks Had Been Under Pressure
The broader market gave little help to these moves. The S&P 500 was essentially flat on the day, and the Nasdaq was barely positive. The gains in Robinhood and Coinbase were driven by company and sector-specific news.
Crypto-linked stocks had been struggling for most of 2026. A mix of macroeconomic pressure, slow legislative progress, and cooling inflows into crypto exchange-traded funds weighed on the sector.
Through Wednesday’s close, Coinbase was down 29% for the year. Strategy had fallen 31%. Robinhood was off 15%.
Despite Thursday’s gains, Robinhood remains well below its 52-week high of $153.86.
Coinbase, Robinhood, and Strategy all operate in the same regulatory space, so any progress on U.S. crypto rules tends to lift the group together.
The Treasury also moved on Wednesday to shore up confidence in the bond market, which added to the broader positive tone that helped spark Bitcoin’s rally.
The Clarity Act vote on September 15 will be the next key moment for the sector.
Stop guessing and start investing with confidence. KnockoutStocks gives you the AI insights, market intelligence, and stock research you need to spot opportunities, cut through the noise, and make smarter investment decisions — all in one powerful platform.
Sign up today and get 50% OFF full access to our premium stock picks.
Simply use coupon code SPECIAL50 at checkout to claim your exclusive discount.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
