Shares of Coinbase and Robinhood rose in pre-market trading on news of the SEC approving the first US bitcoin ETFs. Coinbase was up 5.2% and Robinhood gained 3.8%. Investors see the ETF approval as lending more credibility and legitimacy to the cryptocurrency industry and asset class, which has been volatile. Coinbase CEO Brian Armstrong said in an interview this is a "monumental step" for crypto and acknowledges it is here to stay, after over a decade of Americans using it without full government approval.