Crypto stocks leap as Bitcoin rises on ETF bets

Silvergate Capital

24/10/2023 09:33

** Shares of cryptocurrency and blockchain-related companies
jump premarket as bitcoin hits almost 18-month high on
speculation that an exchange-traded fund (ETF) tracking bitcoin
is imminent
    ** Bitcoin  BTC=BTSP , the world's biggest cryptocurrency,
up 2.9% at $34,048, while Ether  ETH=BTSP  rises 2.7% to
$1,813.9
    ** Sentiment lifted by speculation on likely approval of
BlacRock's  BLK.N  iShares ETF listing on clearing house DTCC's
website
    ** It wasn't clear when or why iShares ETF was added to DTCC
list; both DTCC and BlackRock didn't immediately respond to
requests for comment 
    ** Crypto exchange Coinbase Global  COIN.O  rises 7.3%;
Blockchain farm operator Bitfarms Ltd  BITF.O  up 10.6%
    ** Crypto miners: Riot Platforms Inc  RIOT.O  Marathon
Digital  MARA.O , Hut 8 Mining  HUT.O  and Bit Digital  BTBT.O 
up between 9.6% and 13.1%
    ** Software firm and BTC buyer MicroStrategy  MSTR.O  gains
8.3% in thin trading
    ** BTC mining machine maker Canaan Inc  CAN.O  up 7.0%
    ** ProShares Bitcoin Strategy ETF  BITO.N  adds 8.4%
    ** Up to Monday's close, BTC had risen 106% this year,
versus 57% increase in MVIS CryptoCompare Digital Assets 100
Index  .MVDA 

 (Reporting by Bansari Mayur Kamdar in Bengaluru)
 ((BansariMayur.Kamdar@thomsonreuters.com;  Follow on X:
@BansariKamdar;))