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,
+5.06%
jumped 4.4%, Riot Platforms Inc. shares
RIOT,
+2.95%
rose 4.3%, Coinbase Global Inc. shares
COIN,
+2.42%
climbed 2.4% and MicroStratgy Inc.’s stock
MSTR,
+2.38%
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,
-0.22%
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,
+1.13%
for the S&P 500
SPX,
+1.06%
edged up 0.4%.