Bitcoin‘s rise to nearly $72,000, approaching its March peak of $73,700, has led to only a modest boost in most crypto-related stocks during Tuesday’s morning trading session in the U.S. At the time of reporting, Bitcoin was priced at $71,700, reflecting a 4.3% increase over the past 24 hours.
The cryptocurrency’s upward momentum was supported by significant inflows into U.S.-based spot ETFs, which attracted $417 million on Monday, according to Farside Investors. BlackRock’s iShares Bitcoin Trust (IBIT) accounted for $315 million of this total, increasing its assets under management to $28 billion, and it rose by 3.1% today.
Despite Bitcoin’s rally, crypto stocks have not seen substantial gains. MicroStrategy (MSTR), which has notably outperformed Bitcoin in recent months, recorded a modest increase of 0.9% for the session. Coinbase (COIN) saw a slight uptick of 1.2%. Among mining stocks, Marathon Digital Holdings (MARA) was up 1.4%, Riot Platforms (RIOT) gained 3%, and Hut 8 (HUT) also rose by 3%.
Leading the miners was Bitfarms (BITF), which surged by 5.3%. This increase may be attributed to the company’s recent announcement of nominating Andrew Chang, a former chief operating officer of stablecoin issuer Paxos, for election to its board of directors. This move could influence the ongoing hostile takeover bid from Riot Platforms, according to TheMinerMag.
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