Excitement around a potential spot BTC ETF has led to price gains for cryptocurrency-related stocks, including miners, exchanges, and MicroStrategy.
- Excitement about the possibility of a spot Bitcoin exchange-traded fund launching in the near future has helped propel the top crypto to a fresh 2023 high of $35,155. Still, it's not just BTC that is benefiting from the development, as multiple crypto-related stocks have also seen a lift.
Riot Blockchain saw its stock climb 25% on Monday, while Marathon Digital Holdings saw its stock trade 34.85% higher on Tuesday as compared to its closing price on Friday. On a YTD basis, RIOT is up 163.1%, while Northern Data, a Frankfurt-based general processing unit miner, has increased by an impressive 345%.
Over the past week, MSTR price has climbed 28.9% to trade at $432.39 at the time of writing, while COIN saw a gain of 20.5% before profit-taking reduced its overall price growth since last Thursday to 7.5%.YTD, MSTR is up 214.7% and COIN has increased by 125.7%
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