Coinbase surges as it establishes partnership with BlackRock

Coinbase (COIN.US) shares are rising more than 20% during today's session, after the cryptocurrency exchange announced its partnership with the largest asset manager in the world BlackRock (BLK.US) to support institutional investors in managing and trading in BTC. The company’s institutional trading platform for crypto assets, Coinbase Prime, will provide crypto trading, custody, prime brokerage and reporting capabilities to institutional clients of BlackRock's Aladdin, who are also clients of Coinbase.

Coinbase (COIN.US) started today's session with a bullish price gap. Shares are now trading more than 20% higher. Source: xStation5