Why Bitcoin-Related And Ethereum-Related Stocks Are Trading Higher Today

Cryptocurrency-related stocks, including Marathon Digital Holdings Inc (NASDAQ:MARA), Riot Blockchain Inc (NASDAQ:RIOT) and Bit Digital Inc (NASDAQ:BTBT) are trading higher amid an increase in the price of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

The cryptocurrency markets are rallying as the first Bitcoin futures ETF, ProShares Bitcoin Strategy ETF (NYSE:BITO), began trading today. 

Marathon Digital focuses on mining digital assets. It owns crypto-currency mining machines and a data center to mine digital assets. The stock was up 3.40% at $53.20 at publication time.

Riot Blockchain is focused on building, supporting and operating blockchain technologies. The stock was up 2.42% at $30.52 at publication time.

Bit Digital is engaged in the Bitcoin mining business. Its mining platform operates with the primary intent of accumulating Bitcoin, which the company may sell from time to time to fund its operating expenses. The stock was up 2.65% at $11.41 at publication time.

BTC, ETH Price Action: At time of publication, Bitcoin was up 2.48% at $62,836 and Ethereum was up 1.03% at $3,829.01 over a 24-hour period.

Photo: Miloslav Hamřík from Pixabay.