Why Are Crypto Stocks MSTR, COIN, MARA, RIOT Up Today?

Crypto stocks are trending higher on Friday, even as the S&P 500 continues to take a breather after a robust rally earlier this month. Bitcoin (BTC-USD) is leading the charge, up over 5% on the day and hitting a 52-week high. Additionally, it has exploded higher in seven of the last nine days, leading to a 27% rally over that stretch, and up 90% for the year. The news of Coinbase winning a Supreme Court ruling on arbitration, EDX Markets launching its digital asset market backed by Charles Schwab, Citadel Securities and Fidelity Digital Assets, as well as BlackRock’s filing to launch its own Bitcoin exchange-traded fund (ETF) have all combined to help send crypto stocks soaring this week. MicroStrategy (NASDAQ: MSTR ) is up 1% on the day and 14% for the week, Coinbase (NASDAQ: COIN ) is up 6.7% on the day and 10.3% for the week, Marathon Digital (NASDAQ: MARA ) is up almost 9% on Friday and 29% for the week, and Riot Platforms (NASDAQ: RIOT ) is up about 5% for the day and the week.

Robert Wilson
Robert Wilson

As the overseer of NicheBot's editorial content, I am committed to ensuring that all information published on our website is both accurate and relevant to our readers. My fervent support for the crypto industry has led me to closely monitor the developments within it since 2012, and I have contributed extensively to discussions and debates surrounding the world of Bitcoin.

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