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Benzinga
Benzinga
Business
Adam Eckert

Why Bitcoin- And Ethereum-Related Stocks Are Rising

Nasdaq Bitcoin MARA Ethereum Coinbase blockchain Coinbase Global Inc Marathon Digital Marathon Digital Holdings, Inc Riot Blockchain

Cryptocurrency-related stocks, including Coinbase Global Inc (NASDAQ:COIN), Marathon Digital Holdings Inc (NASDAQ:MARA) and Riot Blockchain Inc (NASDAQ:RIOT) are trading higher Wednesday amid a spike in crypto prices, led by Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

Bitcoin and Ethereum, the two largest cryptocurrencies by market cap, surged higher alongside the broader markets after the Federal Reserve raised rates by 50 basis points on Wednesday, its first rate hike of at least half a percentage point in more than 20 years.

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