Bitcoin Miners Marathon Digital, Riot Platforms Are Rising: What's Going On?

Crypto mining stocks including Marathon Digital Holdings Inc MARA and Riot Platforms Inc RIOT are trading higher Tuesday as the price of Bitcoin BTC/USD continues to move higher on spot ETF optimism. 

What To Know: Bitcoin is up more than 12% over the last 24 hours and approximately 21.5% over the last week on continued momentum surrounding a potential spot ETF, which is expected to increase demand and liquidity in the crypto space.

BlackRock and several other large financial firms recently made changes to their submissions for spot Bitcoin ETFs. BlackRock’s iShares Bitcoin Trust is now featured on the Depository Trust and Clearing Corporation (DTCC) website and Grayscale recently submitted an S-3 filing with the SEC as part of its ongoing push to transition its Bitcoin trust into a spot Bitcoin ETF.

JPMorgan recently said the SEC is likely to approve a spot ETF within the next few months. The firm anticipates an approval by mid-January.  

Marathon Digital is engaged in mining digital assets and focuses on the Bitcoin ecosystem. The stock was up 12.7% at $9.86 at the time of writing. 

Riot Blockchain is focused on building, supporting and operating blockchain technologies with a vision to become the leading Bitcoin-driven infrastructure platform. Shares were up 12.1% at $10.84 Tuesday morning.

See Also: Bitcoin, Ethereum, Dogecoin Spike As $65M In Shorts Liquidated In A Single Day: Analyst Believes Major Bull Run Could Catapult King Crypto To New Yearly High

$BTC Price Action: Bitcoin was trading around $34,454 at the time of publication, according to Benzinga Pro.

Photo: Eivind Pedersen from Pixabay.