Shares of crypto miner Marathon Digital Holdings Inc. ($MARA) are up more than 30% this week amid a surge in the crypto market, led by Bitcoin ($BTC/USD) and Ethereum ($ETH/USD).
The crypto market is getting a boost from multiple positive developments including the launch of a new exchange, EDX Markets, which is backed by some big players in the finance world including Charles Schwab, Fidelity and Citadel Securities.
The EDX Markets launch this week came just days after BlackRock filed an application for what would be the first spot Bitcoin ETF in the U.S, which many believe has a good chance of getting approved.
On CNBC earlier this week, Ritholtz Wealth Management's Josh Brown also noted that there is talk that Fidelity is "readying something seismic."
($MARA) Price Action: Marathon Digital is up more than 30% this week and more than 250% year-to-date.
Marathon Digital shares were up 0.16% at $12.23 at the time of publication.
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