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Benzinga

Business

Adam Eckert

Why Bitcoin- And Ethereum-Related Stocks Are Trading Higher

Nasdaq MARA Coinbase Coinbase Global Inc Marathon Digital

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 rise in the price of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

Several cryptocurrencies are catching bids ahead of Wednesday's Fed decision. Fed officials are expected to raise rates by a quarter of a percentage point in what would be the first rate hike since 2018. Bitcoin is generally viewed as an inflation hedge.

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