4 Crypto Stocks Outpace Bitcoin on Election Day: What Drove the Jump?

On Tuesday, Nov. 3, shares of Coinbase, Strategy, Riot Platforms and MARA Holdings rose between 5% and 13% by late morning, while Bitcoin gained 0.3% over 24 hours, recovering part of an 8% to 14% two-day decline. The four are crypto-linked: Coinbase is the largest US crypto exchange, Strategy holds Bitcoin as its core business, and Riot is a Bitcoin miner. Three developments coincided: the rebound from that sell-off, a 1% rise in the Nasdaq Composite after a 3.9% two-session drop, and the CFTC’s clearance of equity perpetual futures—never-expiring contracts tracking single US stocks—that Coinbase’s derivatives arm had filed to list. Riot rose most at 13.3%; Coinbase gained 8.6%, MARA 7.6% and Strategy 5.4% before 11 a.m. ET.