Bitcoin ETF hits the market, Dow Jones rallies, MARA stock surges 24%
Bitcoin ETF hits the market, Dow Jones rallies, MARA stock surges 24%Bitcoin ETF hits the market, Dow Jones rallies, MARA stock surges 24%Markt-HighlightMarkt-Highlight

Bitcoin hit a six-month high of $62,858 on Friday. By Sunday evening, the coin was trading at more than $62,000 after falling below $60,000 over the weekend. Late Friday, ProShares said its bitcoin futures ETF will likely begin trading next Tuesday.

While the Securities and Exchange Commission has not officially approved the fund yet, it is not required to do so. The fund can begin trading if it does not object.

Bitcoin closer than ever for investors

As early as this year, there could be several bitcoin futures ETFs that bring the largest cryptocurrency closer to ordinary investors than ever before. Grayscale is reportedly in the process of filing for a spot bitcoin ETF.

Chairman of the SEC Gary Gensler has gone on record saying that he will not support a ban on Bitcoin and other cryptocurrencies comparable to China.

The entire crypto market is booming

Ethereum and other cryptocurrencies have also rallied. Marathon Digital Holdings (MARA), Grayscale Bitcoin Trust (GBTC), Coinbase, as well as other companies holding Bitcoin-related stocks have seen their share prices rise.

Tesla also has bitcoin holdings. MARA was a big gainer, posting a 24% gain last week after a 19% increase just the previous week. Grayscale’s shares were up 12% last week, and Coinbase’s were up 13%. On Friday, Coinbase broke through a trend line.

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Stock market rally

Dow Jones futures posted gains on Sunday evening. Nasdaq and S&P 500 futures fell amid generally weak economic data out of China. The stock market rallied strongly last week. Investors can increase their exposure again, but should avoid distractions.

This week, ASML, Tesla, Nucor, Netflix, Chipotle Mexican Grill, CSX, Snap, and some banks, airlines, and oil service providers, among others, face important results.

Microsoft and Goldman Sachs offer early entry

Microsoft and Goldman Sachs, two stocks in the Dow Jones, now offer early entry opportunities. Chinese EV brands are rallying, but Tesla is not lagging. Expedia is just below a breakout. Shares of Tesla and Microsoft are on the IBD Leaderboard, while Goldman shares are on SwingTrader.

Apple to launch highly anticipated MacBook Pro laptop

Apple is expected to unveil the much-anticipated MacBook Pro laptop with in-house chips at a product event today.

Dow Jones Futures Up Today

So far today, Dow Jones futures are up 0.1% versus fair value. In contrast, both S&P 500 futures and Nasdaq 100 futures fell. The 10-year Treasury bond yield was even at 1.58%. Copper futures and crude oil prices rose 1%.