{"id":81173,"date":"2023-07-04T10:54:55","date_gmt":"2023-07-04T07:54:55","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=81173"},"modified":"2025-09-11T21:21:27","modified_gmt":"2025-09-11T18:21:27","slug":"bitcoin-related-stocks-rally-on-etf-news","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-related-stocks-rally-on-etf-news\/","title":{"rendered":"Bitcoin-related stocks rally on ETF news"},"content":{"rendered":"<p>Trading on July 3 saw double-digit gains for Coinbase, MicroStrategy and a number of mining companies. Investors could have reacted to news around filings to launch spot Bitcoin-<a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETF<\/a>.<\/p>\n<p>On June 30, sources at the WSJ said that <span data-descr=\"\u041a\u043e\u043c\u0438\u0441\u0441\u0438\u044f \u043f\u043e \u0446\u0435\u043d\u043d\u044b\u043c \u0431\u0443\u043c\u0430\u0433\u0430\u043c \u0438 \u0431\u0438\u0440\u0436\u0430\u043c \u0421\u0428\u0410\" class=\"old_tooltip\">SEC<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/wsj-reports-sec-reaction-to-blackrock-and-fidelity-spot-bitcoin-etf-filings\">returned the filings<\/a>, because they lacked sufficient information regarding the so-called<a href=\"https:\/\/u1f987.com\/en\/news\/cboe-mirrors-blackrock-elements-in-ark-invest-bitcoin-etf-filing\">joint surveillance agreement<\/a> or details of this mechanism. The latter became a key addition to BlackRock&#8217;s proposal<a href=\"https:\/\/u1f987.com\/en\/news\/blackrock-files-for-bitcoin-etf-launch\">BlackRock<\/a>.<\/p>\n<p>The next day Bloomberg reported that Invesco, VanEck, 21Shares, WisdomTree and Fidelity<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-06-30\/fidelity-leads-flurry-of-bitcoin-btc-etf-refilings-to-answer-sec\"> sent<\/a> updated filings to the Commission in light of the regulator&#8217;s critique.<\/p>\n<p>The listed firms included in their proposals a note that in joint surveillance they would receive support from the exchange<a href=\"https:\/\/u1f987.com\/en\/news\/what-is-coinbase\"> Coinbase<\/a>. Against this backdrop, the platform&#8217;s shares jumped 12.8%, reaching late-March levels ($80.7).<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/image-415.webp\" alt=\"image-415\" class=\"wp-image-210726\"\/><figcaption class=\"wp-element-caption\">Daily chart of Coinbase shares on Nasdaq. Data:<a href=\"https:\/\/finviz.com\/quote.ashx?t=COIN&#038;p=d\"> Finviz<\/a>.<\/figcaption><\/figure>\n<\/div>\n<p>Against the backdrop of Bitcoin prices rising to around $31,000, demand for mining stocks and MicroStrategy grew. The latter <a href=\"https:\/\/u1f987.com\/en\/news\/microstrategy-buys-12333-btc-for-347-million\">added<\/a> as a reserve asset<a href=\"https:\/\/bitcointreasuries.net\/\"> 152 333 BTC (~$4.73 bn)<\/a>.<\/p>\n<p>The securities of the analytics-software provider rose 13.3%, to $387.9. The last time the firm&#8217;s market capitalisation was at such highs was in April 2022.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/image-416.webp\" alt=\"image-416\" class=\"wp-image-210730\"\/><figcaption class=\"wp-element-caption\">Daily chart of MicroStrategy shares on Nasdaq. Data:<a href=\"https:\/\/finviz.com\/quote.ashx?t=MSTR&#038;p=w\"> Finviz<\/a>.<\/figcaption><\/figure>\n<\/div>\n<p>Riot Blockchain and Marathon Digital Holdings shares rose 14.6% and 12.9%.<\/p>\n<p>Circle CEO Jeremy Allaire <a href=\"https:\/\/u1f987.com\/en\/news\/ceo-circle-regulators-have-made-progress-on-the-bitcoin-etf\">forecasted<\/a> that the recent wave of filings for launching cryptocurrency spot ETFs backed by digital gold would lead to regulatory approval.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trading on July 3 saw double-digit gains for Coinbase, MicroStrategy and several mining companies. Investors may have reacted to news surrounding filings to launch spot Bitcoin ETFs.<\/p>\n","protected":false},"author":1,"featured_media":81174,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[138,1207,1211],"class_list":["post-81173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-coinbase","tag-microstrategy","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=81173"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81173\/revisions"}],"predecessor-version":[{"id":81175,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81173\/revisions\/81175"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/81174"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=81173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=81173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=81173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}