Crypto stocks thrust into trading focus as bitcoin hunts for $100K price, IBKR says

Bitcoin (BTC:USD) recently knocking on the door of $100K spurred a weekly jump in trading activity in crypto-linked names on Interactive Brokers’ ( IBKR ) platform. MicroStrategy ( NASDAQ: MSTR ), known for its stash of bitcoin ( BTC-USD ), was the second-most active ticker on the online broker’s platform, IBKR said in a weekly update Tuesday. Crypto miner Mara Holdings ( NASDAQ: MARA ) and crypto exchange Coinbase ( NASDAQ: COIN ) were fifth and sixth on its weekly list of the 25 most-active stocks and options. “Even #23 ( NASDAQ: CLSK ), it is clear that crypto-related stocks are in the forefront of many of our customers’ mindsets. Those names also demonstrate our customers’ continual interest in leveraged plays on an underlying theme,” IBKR Chief Strategist Steve Sosnick said. Nevada-based CleanSpark ( CLSK ) mines bitcoin. Crypto-related stocks lit up as bitcoin ( BTC-USD ) soared more than 40% after bitcoin enthusiast Donald Trump won re-election as U.S. president this month. It climbed to a high above $99,770 last week, but with profit-takers rushing in, bitcoin (BTC:USD) has yet to hit $100,000 . It traded above $94,000 on Wednesday. The iShares Bitcoin Trust ( IBIT ) was 17th on IBKR’s weekly tally, noting bitcoin ETFs had occasionally appeared around the bottom of the list. “[We] see it closer to the middle of the table a few days after options arrived. We will be watching if options trading continues to drive interest in this and other bitcoin ETFs,” Sosnick said. Nvidia ( NASDAQ: NVDA ) reclaimed its usual place at the top of the IBKR list, with net buying of shares and options at 88.4K. “For those of us who can remember the days before the AI craze, when NVDA was perceived as a bellwether for all things crypto, we might be able to think of it in those terms once again – at least in a week when crypto-related plays surged in activity,” Sosnick said. See below for the full data on the IBKR 25 most-active list: Here are some other bitcoin-backed ETFs: ( GBTC ), ( ARKB ), ( BITB ), ( GBTC ), and ( FBTC ). More on bitcoin and the markets Bitcoin drifts down toward $90K; can it hit $100K by year-end? Bitcoin Endgame Is Here: The First Chart Will Shock You Chase Bitcoin At All-Time Highs? Absolutely Yes Credit Spreads: The Markets’ Early Warning Indicators Wolfe’s most shorted ‘Hit List’ – FSLR, BE, WBA, SJM

Source: Seeking Alpha