Crypto-linked stocks rise after bitcoin rebounds
IBIT•Crypto-linked shares rose premarket as bitcoin gained nearly 1.7% to $82,275.99 on Monday. Coinbase rose 1.4%, while crypto miners including Riot Platforms and Mara Holdings gained 4.3% and 4%, respectively.
1. Crypto shares advance
Bitcoin rose nearly 1.7% on Monday to $82,275.99, putting it on track for its biggest one-day gain in nearly a month if the gains hold. Ether rose 2.9% to $2,417.60.
2. Company moves
Coinbase Global shares rose 1.4%, Strategy gained 1.6%, and Robinhood Markets rose 1.6%. Crypto miners Riot Platforms, Mara Holdings and Bit Digital climbed 4.3%, 4% and 4.1%, respectively; Hut 8 advanced 4.4%.
3. Year-to-date losses
Bitcoin was down 6.2% year to date, while Ether was down about 18.7%. Strategy had fallen nearly 10% on Friday after planned index-rule changes raised the risk of exclusion from MSCI's global indexes, potentially jeopardizing billions in passive-fund demand.
