By Crypto: Crypto-related companies and funds jump after Biden signs executive order on cryptocurrencies
Shares of crypto-related companies and exchange traded products surged on Wednesday, after president Joe Biden signed an executive order requiring federal agencies to engage in a broad review of their policies related to cryptocurrencies and other digital assets, sparking hope of regulatory clarity.
Shares of Coinbase Global Inc.
COIN,
+8.93%
gained 9.4%, trading at around $177.26 Wednesday noon. Michael Saylor’s MicroStrategy Inc.
MSTR,
+8.31%
jumped 8.4% to around $444.72.
Mining company Riot Blockchain Inc.
RIOT,
+11.06%
shares went up 11.2% to around $16.78 and shares of Marathon Digital Holdings Inc.
MARA,
+13.77%
rose 13.5% to $25.40. Another miner, Ebang International Holdings Inc.
EBON,
+11.68%,
traded up 11.7% at $1.20.
In the fund space, ProShares Bitcoin Strategy ETF
BITO,
+9.92%
gained 10% to $26.56 Wednesday, while Valkyrie Bitcoin Strategy ETF
BTF,
+10.19%
was up 10.3% at $16.50. VanEck Bitcoin Strategy ETF
XBTF,
+10.15%
climbed to $41.7, up 10.4%.
Grayscale Bitcoin Trust
GBTC,
+11.29%
was trading at $28.63 Wednesday, up 12.2%.
Bitcoin
BTCUSD,
+9.64%
logged a 9.9% gain over the past 24 hours, trading at around $42,228, according to CoinDesk data. Ether
ETHUSD,
+7.35%
jumped 8% over the past 24 hours to around $2,747.
Other risk-assets also climbed on hopes that diplomatic progress can be achieved between Russia and Ukraine to halt the devastating conflict unleashed by Moscow, with the Dow Jones Industrial Average
DJIA,
+2.19%
surging about 730 points, or 2.2%, at midday Wednesday.
