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Crypto stocks recover. Crypto equities have dumped all month, but they’re finally catching a bid alongside broader crypto markets! Why has negative price action reversed?
Prior to the approval of spot BTC ETFs, the best route to crypto exposure from a traditional brokerage was equity in a publicly listed company intrinsically linked to crypto, either by virtue of their business operations or by holding a ton of crypto.
Some of these investors would rather hold actual crypto instead of the equity of an individual company and have been offloading their shares to purchase spot BTC ETFs. These sales explain why crypto equity share prices traded down as tokens rallied leading up to ETF approval in January and why they experienced amplified downside during the post-approval decline.
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