Benzinga | Aug 4, 2021 11:45AM EDT

Why Bitcoin-Related And Ethereum-Related Stocks Are Trading Higher Today

Shares of several cryptocurrency-related stocks including Marathon Digital Holdings Inc (NASDAQ:MARA), Riot Blockchain Inc (NASDAQ:RIOT) and Coinbase Global Inc (NASDAQ:COIN) are trading higher Wednesday in sympathy with the price of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

Bitcoin may be trading higher today following positive comments regarding regulation from SEC chief Gary Gensler. Ethereum may be trading higher as investors anticipate the upgrade coming to the Ethereum network called Ethereum Improvement Protocol 1559, or EIP-1559.

Marathon Digital is focused on mining digital assets. It owns crypto-currency mining machines and a data center to mine the digital assets.

Riot Blockchain is focused on building, supporting and operating blockchain technologies.

Coinbase Global is a provider of end-to-end financial infrastructure and technology for the crypto-economy.

Price Action: Bitcoin is up 35.42% year-to-date, while Ethereum is up 260.41% year-to-date.

At last check Wednesday, Marathon Digital was up 7.63% at $29.20, Riot Blockchain was up 6.04% at $33.38 and Coinbase was up 2.55% at $236.04.