Bitcoin Miners and Other Public Crypto Firms Are Beating the Market: JP Morgan – BitRss

Publicly traded crypto firms dominated in January, outpacing the crypto market itself in terms of market cap growth.

Among publicly traded crypto firms tracked by JP Morgan—which includes Coinbase and Bitcoin miners like Marathon and Riot—the group’s overall market cap expanded 14% in January, pushing the Wall Street firms’ total valuation to $108 billion.

The crypto market itself ended January with a market cap of around $3.2 trillion, notching an 8% expansion as President Donald Trump assumed the White House after positioning himself as America’s first crypto president, JP Morgan analysts wrote in a Tuesday report.

Still, the market cap of publicly traded crypto firms grew at nearly double that of the overall crypto market as the regulatory environment under Trump began to take shape, analysts noted.

Former SEC Chair Gary Gensler resigned, a controversial crypto accounting rule for banks was swiftly rescinded, and acting SEC Chair Mark Uyeda unveiled a new crypto…