Major crypto-related stocks and funds rallied Tuesday as bitcoin climbed 3%, and the Dow Jones Industrial Average
DJIA
jumped more than 700 points.
The largest cryptocurrency
BTCUSD
is trading at around $20,089, according to CoinDesk data. The Dow
DJIA
rose 2.4% to 30,204, and the S&P 500
SPX
gained 2.7% to 3,778, according to FactSet data. The Nasdaq Composite went up 3% to 11,153.
Stock indexes extended the Monday gains amid hopes that global central banks may slow down their interest rate hiking plans.
Following such leads, Coinbase Global Inc.
COIN
shares on Tuesday surged almost 10% to around $72.32, and Michael Saylor’s MicroStrategy Inc.
MSTR
shares advanced 8.9% to $244.04.
Shares of mining company Riot Blockchain Inc.
RIOT
shares added 7.4% to $7.69, and that of Marathon Digital Holdings Inc.
MARA
rallied 15% to $12.65. Another miner, Ebang International Holdings Inc.
EBON
gained 5% to $0.44.
Overstock.com Inc.
OSTK
shares rose 5.5% to $26.85. Shares of Block Inc
SQ,
formerly known as Square, increased 8.8% to $60.68.
Tesla Inc.
TSLA
advanced 4.7% to $253.40, and PayPal Holdings Inc.
PYPL
jumped 4.2% to $91.37. Nvidia Corp.
NVDA
shares rose 4.3% to $130.47.
Advanced Micro Devices Inc.
AMD
shares hiked 4% to $68.71.
Among crypto funds, ProShares Bitcoin Strategy ETF
BITO
went up 3.2% to $12.45 Thursday, while its Short Bitcoin Strategy ETF
BITI
lost 3.2% to $36.87.
Valkyrie Bitcoin Strategy ETF
BTF
traded 3.1% higher at around $7.75, and VanEck Bitcoin Strategy ETF
XBTF
climbed 3.7% to $19.79.
Grayscale Bitcoin Trust
GBTC
posted a 4.5% gain to $12.19.
