On September 17, the SEC approved a temporary framework for trading tokenized US equities. Called the Innovation Exemption, this framework could give Coinbase Global, Inc. (NASDAQ:COIN) a new avenue to expand its “Everything Exchange” beyond crypto.

Investor interest in disruptive-growth themes remains active despite recent market volatility. Billionaire Ken Fisher recently increased exposure to two stocks closely associated with Cathie Wood’s investment strategy, one of which is COIN. Read more: Billionaire Ken Fisher Was Buying These 2 Cathie Wood Stocks.

Baird reiterated a Neutral rating on Coinbase with a $130 price target following the move. The brokerage said the regulatory change could allow Coinbase…