Many Crypto stocks are up way more in the past weeks than Cryptocurrencies themselves, seems like the Wall Street has already placed their bets… This is very bullish.

We all have focused in the past days on the massive gains BTC and other crypto assets had due to the recent news of the biggest financial institutions filing in for Spot Bitcoin ETFs and thus increasing the possibility of a Spot ETF in Crypto being approved, by the so far very stubborn SEC, quite a lot. While indeed BTC has been up about 22% since those announcements by itself. There is something blowing up even more.

Those are Crypto stocks or as many also refer to them, “Bitcoin related equity“. There we have mining stocks like RIOT and MARA up over 70% and 80% respectively. Even Coinbase is up 52% as the largest publicly listed Crypto Exchange and MicroStrategy is up 50% which is more than twice over BTC itself.

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Chart showing BTC in comparison to multiple Crypto stocks lie RIOT, COIN and MSTR, by Andrew Kang

Now you may ask why is that, why are crypto stocks increasing more than Crypto itself? After all Crypto stocks are just a subunit of Crypto itself. Well, the big difference between Stocks and Crypto is that one of them is listed at the Wall Street, a place where the big financial giants basically control everything if we are being honest and a place those giants like BlackRock like to make their easy money at as they know each corner of it.

So it makes sense that as long as we don‘t have a Bitcoin Spot ETF, those Crypto stocks are the only crypto-related assets those financial dinosaurs are able to freely speculate at, they are probably too scared of direct exposure to Crypto as that is a very young market and one that they do not control to 100% yet, which is the grim reality.