Bitcoin, Ether and Crypto Stocks Keep Rising
Bitcoin, ether, and several crypto stocks rose Friday on fresh expectations that U.S. regulators will soon allow exchange-traded funds that directly hold the two largest cryptocurrencies to launch.
Bitcoin was up more than 2% over the past 24 hours as of late Friday morning at $37,349, according to CoinDesk, while ether gained more than 5% to $2,100.
BTC and other crypto-related shares fluctuation
Bitcoin, ether, and several crypto stocks rose on fresh expectations that U.S. regulators will soon allow exchange-traded funds that directly hold the two largest cryptocurrencies to launch, via @factset#BTC #Crypto #ETFs pic.twitter.com/9F0jRzR4DE
— The_Journalbiz (@the_journalbiz) November 10, 2023
Coindesk chart
Crypto stocks also rose. MicroStrategy, a software intelligence firm that holds more than 150,000 bitcoin, was up about 3%. The stock, which has soared 260% this year, is on pace for its best year since 1999, according to Dow Jones Market Data.
Crypto exchange Coinbase Global, rose 1.7%. The stock has risen 166% this year, though it remains below its initial offering price of $381.
Cryptocurrencies gained on expectations U.S. regulators are moving to approve a bitcoin exchange-traded fund.
Shares of MicroStrategy, a software intelligence firm that periodically adds bitcoins to its coffers, rose 8.3%. Shares in the company often rise or fall with bitcoin.
