Shares of companies in the cryptocurrency business rallied Monday to snap losing streak, as they got a boost from bitcoin’s big gain. Marathon Digital Holdings Inc.’s stock MARA, -0.90% jumped 4.4%, Riot Platforms Inc. shares RIOT, -0.54% rose 4.3%, Coinbase Global Inc. shares COIN, -2.34% climbed 2.4% and MicroStratgy Inc.’s stock MSTR, -1.66% advanced 2.9%.
Marathon, Coinbase and MicroStrategy shares were on track to snap three-day losing streaks while Riot shares were headed for their first gain in five sessions. Bitcoin futures BTCUSD, +2.08% ran up 3.7%, amid a growing possibility that the Securities and Exchange Commission will soon approve the first spot bitcoin ETF, as Barron’s reported. The rallies come as futures ES00, +0.28% for the S&P 500 SPX, -0.50% edged up 0.4%.
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