Crypto-Related Stocks Soar as Bitcoin and Ethereum Rise
US-listed companies related to cryptocurrency and blockchain saw their share prices rise as Bitcoin and Ethereum increased in value. On October 2, Bitcoin rose by 2.1% to $86,376.5, marking its fourth consecutive day of gains, while Ethereum gained 1.9% to $2,749.3.
Cryptocurrency exchange Coinbase Global surged 2.9%, and MicroStrategy, a company known for buying large amounts of Bitcoin, gained 3.1%. Trading platform Robinhood Markets rose by 1.8%, and Webull increased by 1.2%.
Cryptocurrency mining stocks also saw gains, with Riot Platforms increasing by 2.2%, Mara Holdings rising 2.7%, and Bit Digital climbing 3%. American Bitcoin ABTC.O, supported by two sons of US President Donald Trump, soared 3.3%, while its parent company Hut 8 HUT.O rose 1.9%.
Stablecoin issuer Circle Internet gained 2.5%, and Bitcoin mining machine manufacturer Canaan surged 3.1%. ProShares Bitcoin Strategy ETF and iShares Bitcoin Trust ETF both rose by 2.1% and 2%, respectively.