Bitcoin

Impact

Spot

<ul class="list-ic vertical">
 <li><span>1</span> <a>Spot BTC ETF approval affected major indices, including NASDAQ, Dow Jones, and S&amp;P 500.</a></li>
 <li><span>2</span> <a>It also affected some of the companies that are in any way involved in the crypto or bitcoin industry.</a></li>
 <li><span>3</span> <a>The companies included Riot Platforms, Coinbase Global, NVIDIA Corporation, MicroStrategy Incorporated, and Tesla Inc.</a></li>
</ul>
<p>The US stock market has seen sudden changes in prices and volatility in the stocks of companies working in the crypto industry or those related to Bitcoin. The approval of the spot BTC ETF brought this movement to the market on Wednesday.</p>
<h2 class="wp-block-heading" id="strong-impact-of-btc-etf-on-global-indices-strong"><strong>Impact of BTC ETF on Global Indices</strong></h2>
<p>With this, the Nasdaq composite observed a positive trend and ended with a change of +111.94 points (0.75%), closing at $14,969.65 and trading within the range of [$14,842 and $14,998.20].&nbsp;</p>
<p>The Dow Jones Industrial Average Index has observed a positive change of +170.57 points (0.45%), closing at $37,695.75 and trading within the range of 37,524.40 and 37,740.77.</p>
<p>The S&amp;P500 also followed the positive trend of the Nasdaq and Dow Jones, and it also saw a change of 0.57% (+26.95 points), traded within the range of $4,756.20 and $4,790.80 and finally closed at $4,783.45.</p>
<p>The growth in the top 3 above-discussed indices reflects optimism among the traders but with caution. Hence, none of the indices saw a major movement.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-impact-on-individual-stocks-involved-in-the-crypto-industry-strong"><strong>Impact on Individual Stocks Involved in the Crypto Industry</strong></h2>
<h3 class="wp-block-heading" id="strong-riot-platforms-inc-nasdaq-riot-strong"><strong>Riot Platforms, Inc (NASDAQ: RIOT)</strong></h3>
<p>It is a Bitcoin mining and digital infrastructure company. The company has Bitcoin mining data centre operations in Central Texas, Bitcoin mining operations in Central Texas, and electrical switchgear engineering and fabrication operations in Denver, Colorado.</p>
<p>Riot Platform’s stock experienced a decline of 1.21% from the previous day. The stock traded between $14.77 and $16.31. The movement in stock prices is caused by the SEC’s approval of the BTC ETF.</p>
<h3 class="wp-block-heading" id="strong-coinbase-global-inc-nasdaq-coin-strong"><strong>Coinbase Global Inc (NASDAQ: COIN)</strong></h3>
<p>Coinbase is building the crypto-economy, a more fair, accessible, efficient, and transparent financial system. It was started in 2012 with the radical idea that anyone should be able to easily and securely send and receive Bitcoin anywhere.</p>
<p>The stock prices also saw a slight decrease of 0.46%, opening lower than the previous day’s closing. Moreover, market prices fluctuated between $143.15 and $153.47. The stock price has moved up from the open price and it is expected to rise in the next <a href="https://www.thecoinrepublic.com/2023/09/08/klac-stock-price-lost-16-29-in-recent-1-day-trading-session/" target="_blank" rel="noopener noreferrer nofollow">trading session</a>.</p>
<h3 class="wp-block-heading" id="strong-nvidia-corporation-nasdaq-nvda-strong"><strong>NVIDIA Corporation (NASDAQ: NVDA</strong>)</h3>
<p>NVIDIA CMP enables a fully open, airflow-optimized bracket and is configured to allow a greater number of GPUs to be controlled. Its architecture is designed to enable it to mine more efficiently.</p>
<p>NVIDIA’s stock rose by 2.28% from the prices of the previous trading day and closed at $543.50, marking an annual high of $546.00.</p>
<h3 class="wp-block-heading" id="strong-microstrategy-incorporated-nasdaq-mstr-strong"><strong>MicroStrategy Incorporated (Nasdaq: MSTR)</strong></h3>
<p>MicroStrategy stock declined by 2.01% and closed at $565.67. It marked an intraday low of $553.84 and a high of $587. Bitcoin investments in MicroStrategy are key drivers of fluctuations in its prices.</p>
<h3 class="wp-block-heading" id="strong-tesla-inc-nasdaq-tsla-strong"><strong>Tesla Inc (NASDAQ: TSLA)</strong></h3>
<p>Tesla stock decreased by 0.43% from the previous day, closing at $233.94. The stock traded between $235.5 and $231.26. It does not have much volatility and it is less affected by BTC ETF announcements. It is rather influenced by its global EV market competition in Asian countries.</p>
<p>Investors should keep an eye on these stocks as they will be affected by trading and listing of the spot BTC ETF.</p>

NASDAQ’s Stocks and Major Indices Affected by Spot BTC ETF

Table of Contents

Thecoinrepublic.com

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