Crypto Stocks Soar: Coinbase, Robinhood Reach Record Levels After House Approves Groundbreaking Legislation

Crypto-linked equities surged Thursday after the U.S. House of Representatives passed two major pieces of legislation aimed at overhauling digital asset regulation, reigniting optimism across markets for clearer oversight and institutional expansion.

Coinbase (COIN) rallied 3.2% to a record close above $410, propelling its market capitalization beyond $100 billion for the first time. Circle (CRCL), the firm behind the $62 billion USDC stablecoin, recovered from early-session weakness to end the day up 0.8%, capping a near-20% gain over two days.

Robinhood (HOOD) climbed 2.6% to an all-time high above $105 as traders bet on the brokerage’s expanding footprint in tokenization and digital assets. Galaxy Digital (GLXY) added 6% amid broader strength in crypto-native financials.

The rally followed the House’s passage of the CLARITY Act, a sweeping market structure reform bill, and the GENIUS Act, which introduces a federal framework for stablecoin issuance and oversight. The GENIUS Act now moves to the White House, having already passed the Senate.

While equity markets cheered the legislative momentum, digital asset prices saw more muted action. Bitcoin (BTC) dipped 0.9% to around $119,000, while Ether (ETH) held near $3,400. XRP, however, extended its recent breakout with an 8% daily gain, inching closer to its 2018 record high of $3.40.

The twin bills represent a significant inflection point in crypto policy, laying the groundwork for mainstream adoption and further institutional inflows.