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Fortune

Marco Quiroz-Gutierrez

Coinbase and MicroStrategy among crypto-linked stocks soaring as Bitcoin hits $35,000 for first time since 2022

Bitcoin Coinbase Crypto BlackRock Cryptocurrency ETF Grayscale

(Credit: Illustration by Fortune)

Bitcoin’s rally above $35,000 is pushing higher the shares of several crypto-related firms, with investor optimism increasing alongside the likely approval of a spot Bitcoin ETF.

Bitcoin mining stocks led the gains on Tuesday morning, with Marathon Digital Holdings and Riot Platforms up 18% and 15%, respectively. Shares of the largest U.S.-based crypto exchange, Coinbase, were up 15%, to about $89, while Bitcoin HODLer MicroStrategy was up 13%, at $427, just after the market opened Tuesday.

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