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Bitcoin Stocks Explode Amid ETF News

by Vaibhav
July 4, 2023
in News
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As a result of trading on July 3, shares of Coinbase, MicroStrategy and a number of mining companies showed double-digit growth. Investors could react to the news around applications for the launch of spot bitcoin ETFs.

On June 30, WSJ sources reported that SEC returned the documents because they did not contain sufficient information regarding the so-called joint monitoring agreement or the details of this mechanism. The latter has become a key addition to the BlackRock offering.

Bloomberg reported the next day that Invesco, VanEck, 21Shares, WisdomTree and Fidelity sent The Commission revised the applications, taking into account the criticism of the regulator.

The listed companies included in the proposals a mention that they will be supported by the Coinbase exchange in joint supervision. Against this background, the platform’s shares jumped in price by 12.8%, reaching the values ​​of the end of March ($80.7).

image-415
Nasdaq Coinbase stock daily chart. Data: Finviz.

Against the background of the growth of bitcoin quotes to the level of $31,000, shares of mining companies and MicroStrategy were in demand. Last added as a reserve asset 152,333 BTC (~$4.73 billion).

See also  DEX Osmosis updated tokenomics and reduced inflation

Securities supplier of analytical software has risen in price by 13.3% to $387.9. The last time the company’s capitalization was at such high levels was in April 2022.

image-416
Nasdaq MicroStrategy stock daily chart. Data: Finviz.

Shares of mining companies Riot Blockchain and Marathon Digital Holdings rose 14.6% and 12.9.

Recall, Circle CEO Jeremy Allaire predicted that the recent wave of applications for the launch of cryptocurrency spot ETFs based on digital gold will lead to regulatory approval.

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coinbase_listing-min

As a result of trading on July 3, shares of Coinbase, MicroStrategy and a number of mining companies showed double-digit growth. Investors could react to the news around applications for the launch of spot bitcoin ETFs.

See also  Three Arrows Capital returns to the market, but already in the form of a venture fund

On June 30, WSJ sources reported that SEC returned the documents because they did not contain sufficient information regarding the so-called joint monitoring agreement or the details of this mechanism. The latter has become a key addition to the BlackRock offering.

Bloomberg reported the next day that Invesco, VanEck, 21Shares, WisdomTree and Fidelity sent The Commission revised the applications, taking into account the criticism of the regulator.

The listed companies included in the proposals a mention that they will be supported by the Coinbase exchange in joint supervision. Against this background, the platform’s shares jumped in price by 12.8%, reaching the values ​​of the end of March ($80.7).

image-415
Nasdaq Coinbase stock daily chart. Data: Finviz.

Against the background of the growth of bitcoin quotes to the level of $31,000, shares of mining companies and MicroStrategy were in demand. Last added as a reserve asset 152,333 BTC (~$4.73 billion).

See also  Celsius Network to pay $4.7 billion in FTC settlement

Securities supplier of analytical software has risen in price by 13.3% to $387.9. The last time the company’s capitalization was at such high levels was in April 2022.

image-416
Nasdaq MicroStrategy stock daily chart. Data: Finviz.

Shares of mining companies Riot Blockchain and Marathon Digital Holdings rose 14.6% and 12.9.

Recall, Circle CEO Jeremy Allaire predicted that the recent wave of applications for the launch of cryptocurrency spot ETFs based on digital gold will lead to regulatory approval.

Subscribe to Cryplogger on social networks

Found a mistake in the text? Select it and press CTRL+ENTER

Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!

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