Coinbase, Robinhood Rally to Record Highs Amid Momentum from Landmark House Crypto Vote

Equities tied to the digital asset ecosystem rallied sharply on Thursday after the U.S. House of Representatives passed two major cryptocurrency bills, signaling a potential shift toward clearer regulatory frameworks.

Coinbase (COIN) climbed 3.2%, closing above $410 and pushing its market cap beyond $100 billion — a first for the crypto exchange. Circle (CRCL) added 0.8%, building on its multi-day rally as optimism returned to the stablecoin sector.

Robinhood (HOOD) soared 2.6% to a record high above $105, fueled by investor enthusiasm for its growing presence in crypto markets. Galaxy Digital (GLXY) led gains among digital asset financial firms, rising over 6%.

The bullish sentiment followed House approval of two key bills: the CLARITY Act, which introduces a formal structure for digital asset oversight, and the GENIUS Act, a stablecoin-focused framework already passed by the Senate. The latter is now headed to the president’s desk for final approval.

Crypto markets showed mixed reactions. Bitcoin (BTC) dipped 0.9% to around $119,000, while Ether (ETH) remained steady near $3,400. XRP surged 8%, coming within 3% of its 2018 all-time high, buoyed by strong futures demand and ETF speculation.

The legislation is viewed as a milestone in establishing U.S. crypto policy and could pave the way for deeper institutional participation if signed into law.