Bitcoin, Crypto Stocks Waver on First Spot Bitcoin ETF Trading Day

Bitcoin and crypto stocks are mixed after rising in tandem to start Thursday, the first trading day of U.S. exchange-traded funds holding the largest digital currency.

Bitcoin rose 4% in the past 24 hours to $47,167 Thursday morning after initially surging to about $49,000, according to CoinDesk. Ether, the second-largest cryptocurrency by market value, jumped 7% to $2,617.

Crypto exchange Coinbase Global, which serves as the bitcoin custodian for eight of the 11 funds, fell 4%. MicroStrategy, a bitcoin-buying software intelligence firm, was down 4%.


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