Marathon Digital Holdings, Inc. (NASDAQ: MARA) witnessed a significant surge in its stock price, soaring 10.53% higher on Monday. This surge came in response to the exchange operator Cboe’s decision to refile Bitcoin ETF proposals with the Securities and Exchange Commission (SEC).
The resubmission of the application by Cboe, which seeks approval for a Bitcoin ETF managed by Fidelity Investments, sent shockwaves through the market. Investors eagerly reacted to the news, driving the trading volume of MARA shares to new heights.
Cboe has taken an additional step to ensure the integrity of the ETF launch process by expressing its intention to collaborate with Coinbase. This partnership aims to prevent any potential market manipulation during the highly-anticipated launch, as reported by Reuters.
Data from Benzinga Pro reveals that Monday’s trading volume for MARA stock far surpassed the average, reaching 43,128,279 (43.12 million) shares, compared to the usual 38.19 million. Such heightened activity indicates the tremendous interest and enthusiasm surrounding this development.
Moreover, it is worth noting that there is significant short interest in MARA, with approximately 24.68% of shares being sold short. This adds another layer of intrigue to the story, as investors on both sides eagerly await the outcome of this thrilling chapter in the crypto market.
Zabih Ullah is a seasoned finance writer with more than ten years of experience. He is highly skilled at analyzing market trends, decoding economic data, and providing insightful commentary on various financial topics. Driven by his curiosity, Zabih stays updated with the latest developments in the finance industry, ensuring that his readers receive timely and relevant news and analysis.
