: Bitcoin’s surge gives a boost to crypto-related stocks

Shares of companies in the cryptocurrency business rallied Monday to snap losing streak, as they got a boost from bitcoin’s big gain. Marathon Digital Holdings Inc.’s stock MARA jumped 4.4%, Riot Platforms Inc. shares RIOT rose 4.3%, Coinbase Global Inc. shares COIN climbed 2.4% and MicroStratgy Inc.’s stock MSTR advanced 2.9%. Marathon, Coinbase and MicroStrategy shares were on track to snap three-day losing streaks while Riot shares were headed for their first gain in five sessions. Bitcoin futures BTCUSD ran up 3.7%, amid a growing possibility that the Securities and Exchange Commission will soon approve the first spot bitcoin ETF, as Barron’s reported. The rallies come as futures ES00 for the S&P 500 SPX edged up 0.4%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.