Benzinga | Oct 20, 2021 10:11AM EDT

Why Bitcoin-Related And Ethereum-Related Stocks Are Rising Today

Cryptocurrency-related stocks, including Marathon Digital Holdings Inc (NASDAQ:MARA), Riot Blockchain Inc (NASDAQ:RIOT) and Coinbase Global Inc (NASDAQ:COIN) are trading higher amid a sharp increase in the price of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). Bitcoin climbed above $65,000 to new all-time highs on Wednesday.

The cryptocurrency markets are rallying following the listing of the first Bitcoin futures ETF, ProShares Bitcoin Strategy ETF (NYSE:BITO), on Tuesday.

Marathon Digital is focused on mining digital assets. It owns cryptocurrency mining machines and a data center to mine the digital assets. The stock was up 3.95% at $56.04 at publication time.

Riot Blockchain is focused on building, supporting and operating blockchain technologies. The stock was up 4.17% at $32.12 at publication time.

Coinbase is a provider of end-to-end financial infrastructure and technology for the crypto-economy. The stock was up 2.22% at $312.43 at publication time.

BTC, ETH Price Action: Bitcoin surged to new all-time highs on Wednesday morning. It was up 4.65% at $65,828 over a 24-hour period at time of publication.

Ethereum was up 5.06% at $3,998.28 over a 24-hour period at time of publication.

Photo: PIRO4D from Pixabay.