Why HIVE Digital Technologies Stock Is Higher Today

HIVE Digital Technologies Ltd.HIVEshares are trading higher Tuesday after the US federal appeals court ruled the SEC was wrong to reject Grayscale Investments' spot Bitcoin BTC/USD ETF application.

The Details:

A federal court has ordered the Securities and Exchange Commission (SEC) to review its rejection of the application from Grayscale Investments to convert its Grayscale Bitcoin Trust GBTC into a spot Bitcoin ETF.

Shares of HIVE are moving higher on heavy trading volume. According to Benzinga Pro, more than 1.58 million shares have already been traded in the session, compared to the stock's 100-day average of 1.545 million shares.

Bitcoin is up more than 5% on Tuesday and has broken the $27,000 mark.

HIVE Digital Technologies, Ltd., formerly HIVE Blockchain Technologies, Ltd., provides infrastructure solutions in the blockchain industry and focuses on the mining and sale of digital currencies.

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HIVE Price Action: According to Benzinga Pro, HIVE Digital Technologies shares are up over 17% at $4.03 at the time of publication.

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