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home / news releases / SI - Crypto stocks gap up at the open as bitcoin tests $60K level from April

SI - Crypto stocks gap up at the open as bitcoin tests $60K level from April

Silvergate Capital Corp - Class A
Crypto-related stocks such as Marathon Digital (MARA +8.0%), Bit Digital (BTBT +6.2%), Hut 8 Mining (HUT +11.4%), Silvergate Capital (SI +1.8%) and MicroStrategy (MSTR +3.7%) surge in early trading as bitcoin (BTC-USD) nearly doubles to ~$60K from its trough in July. Perhaps the recent rally is partly in anticipation that the U.S. Securities and Exchange Commission allow ProShares to launch the first U.S. Bitcoin futures ETF next week.  Additionally, crypto asset manager Galaxy Digital Holdings (OTCPK:BRPHF) filed for a bitcoin (BTC-USD) futures ETF with the SEC in mid-August. Invesco also seeks to launch the Invesco Bitcoin Strategy ETF, an actively managed fund that also does not directly hold bitcoin (BTC-USD). Recall that crypto investors have recently flocked to the futures market ahead of the SEC's potential OK on four ETFs over the next two weeks. Specifically to ethereum (ETH-USD), the second largest crypto by market cap, is "showing evidence of

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Crypto stocks gap up at the open as bitcoin tests $60K level from April
Stock Information
Company Name: Silvergate Capital Corp - Class A
Stock Symbol: SI
Market: NYSE
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