Coinbase Global, a company that introduces new tab shares, has earned its first profit since 2021 due to strong trading volumes driven by confidence in spot bitcoin ETFs.

The stock rose 12% before the bell, and is on track to increase the company’s market value by about $5 billion and reach its peak this year if current prices remain.

A 57% increase in bitcoin prices in the fourth quarter was driven by investor interest in crypto tokens since the second half of 2023, anticipating the U.S. Securities and Exchange Commission’s clearance for spot bitcoin ETFs.