Recovery in crypto prices lifts Bitcoin and blockchain ETFs

Exchange traded funds focused on Bitcoin ( BTC-USD ) and blockchain technology were higher during Wednesday's trading, boosted by gains in the overall cryptocurrency market. After trading at $15,766 on Monday as crypto broker Genesis warned of possible bankruptcy , Bitcoin ( BTC-USD ) bounced back to above $16,400 level, including a gain of about 2% on Wednesday. Ethereum ( ETH-USD ) rose by 3% to $1,159, Dogecoin ( DOGE-USD ) jumped 4% to $0.08, and Binance Coin USD ( BNB-USD ) +13% to $297.2. The recovery in BTC-USD has boosted ETFs linked to the sector. Here are some of the biggest funds in the space, along with their intraday movement: ProShares Bitcoin Strategy ETF ( BITO ) +2.4% , Valkyrie Bitcoin Strategy ETF ( BTF ) +2.3% , VanEck Bitcoin Strategy ETF ( XBTF ) +1.4% , Invesco Alerian Galaxy Crypto Economy ETF (SATO) +2.9% , Global X Blockchain & Bitcoin Strategy ETF ( BITS ) +2% , Global X Blockchain ETF ( BKCH ) +2.2% , VanEck Vectors Digital Transformation ETF ( DAPP ) +2.4% , and Bitwise Crypto Industry Innovators ETF ( BITQ ) +1.4% . Within the funds, many of the biggest names in the sector were benefitting from the upswing. Here are some of the crypto- and blockchain-related names showing strength, along with their intraday gains on Wednesday: Robinhood Markets ( HOOD ) +2.4% , Coinbase Global ( COIN ) +4% , Bakkt Holdings ( BKKT ) +1.8% , Marathon Digital ( MARA ) +0.23% , Riot Blockchain ( RIOT ) +6.6% , Hut 8 Mining ( HUT ) +3% , MicroStrategy ( MSTR ) +1.5% , HIVE Blockchain Technologies ( HIVE ) +2.4% , and Argo Blockchain ( ARBK ) +2% . Cryptocurrencies prices plunged in November after the fallout of Sam Bankman-Fried’s FTX empire and followed by Genesis warning of bankruptcy as it scrambles for funding. Over a period of one year, BTC-USD has lost more than 71% of its value. Earlier today, Cathie Wood reiterated her view that Bitcoin will reach $1M by 2030 . For the bearish perspective, see why Seeking Alpha contributor Daniel Jones sees a coming Bitcoin collapse .