Traders will soon be able to place bets on whether Coinbase, Robinhood, and Marathon will meet their targets.

Your daily look at October 16, 2026

While traders spent the week watching the $82,618.30 bitcoin rally above $80,000 amid key U.S. inflation data, the U.S. Securities and Exchange Commission's decision received far less attention.

(SEC) approved listing of binary options linked to key performance indicators (KPI) of 23 publicly traded US companies. These metrics include trading volume at cryptocurrency exchange Coinbase Global (COIN), the number of customers and revenue at Robinhood Markets (HOOD), and bitcoin production at mining company MARA Holdings (MARA).

“For cryptocurrencies, this creates a new way to trade crypto-related company performance beyond directly betting on the price of Bitcoin,” Crypto America host Eleanor Trett said on X. The SEC approved this structure of certain securities options, while leaving room for differently structured contracts to the CFTC.

A binary option is the simplest option contract that allows traders to bet on a simple yes or no question, such as whether the trading volume of Coinbase will exceed a set number by a certain date.

SEC Chairman Paul Atkins approved the rule change filed by Cboe Global Markets, according to a statement dated Oct. 13. They look at the numbers in companies' SEC filings, not the numbers in earnings presentations.

Cboe plans to list the contracts this month, and Robinhood is expected to be the first broker to offer them to retail investors. Trading cannot begin until Cboe Clear U.S., the clearinghouse, receives a provisional registration, and a separate application is pending.

Atkins said the approval does not address similar contracts overseen by the Commodity Futures Trading Commission (CFTC), such as those on Kalshi's prediction market platform. He said the agency's turf battles have hindered innovation for decades, and the approval "reflects a new spirit of coordination, innovation and investor choice."

As for the market, analysts are bullish on the outlook after Bitcoin successfully defended its $82,618.30 SMA this week. Be alert!

The chart shows the daily price volatility of Bitcoin in candle form since late July. On the chart is the 50-day simple moving average of the price.

While the rally has stalled since September 21, pullbacks have been moderate, with the 50-day moving average providing support. Prices briefly fell below that level on Thursday before recovering.

This behavior has caused some analysts to take a position for more upside in digital currencies.

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