Why Bitcoin- And Ethereum-Related Stocks Coinbase Global And Bakkt Holdings Are Rising Today

Shares of cryptocurrency-related stocks, including Coinbase Global, Inc. (NASDAQ: COIN) and Bakkt Holdings, Inc. (NYSE: BKKT), are both trading higher in sympathy with the price of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

At publication time, Bitcoin was up 3.7% over a 24-hour period at $42,667 and Ethereum was up 2.2% at $3,011.

Coinbase Global, Inc. provides financial infrastructure and technology for the crypto-economy in the United States and internationally.

Coinbase shares were trading about 6.2% higher at $187.84 per share on Tuesday at the time of publication. 

Bakkt Holdings, Inc. operates a digital asset platform. Its platform enables consumers to buy, sell, store, and spend digital assets.

Bakkt shares were trading about 22.2% higher at $7.06 per share.