Bitcoin Breakout Lifts Retail Brokerage Stocks Amid Improved Risk Appetite

The price of Bitcoin has broken out above its $60,000 to $70,000 range, causing a surge in retail brokerage stocks. The iShares Bitcoin Trust ETF (IBIT) is up 6% to $43.69, and the NASDAQ-listed Webull's shares are up 2% to $9.07. Robinhood Markets stock has climbed 5% to $99.90.

The surge in cryptocurrency prices comes as President Trump urged Congress to advance the Clarity Act, which would establish a clearer regulatory framework for the U.S. crypto industry. The U.S. Treasury also announced plans to double its bond buybacks to contain rising yields, improving risk appetite and giving Bitcoin an added push into today's breakout.

Robinhood carries a $75.19 billion market cap with 28.4 million funded customers, while Webull has a smaller market cap of $3.96 billion. The iShares Bitcoin Trust ETF provides a clean read on the underlying breakout since it holds spot Bitcoin rather than equities.