JPMorgan Chase: Bitcoin mining companies and other listed crypto companies outperformed the crypto market itself in January

Odaily News The overall market value of publicly traded cryptocurrency companies tracked by JPMorgan, including exchange Coinbase and bitcoin miners such as Marathon and Riot, grew 14% in January to $108 billion, while the cryptocurrency market itself was valued at about $3.2 trillion at the end of January, up 8%, JPMorgan analysts wrote in a report Tuesday.
Analysts note that as a crypto-friendly regulatory environment began to take shape under Trump’s administration, the market capitalization of publicly traded cryptocurrency companies grew at almost twice the rate of the overall cryptocurrency market.
In addition, the SEC's willingness to work with cryptocurrency companies may benefit Coinbase, which the SEC filed a lawsuit against in 2023 for alleged violations of registration requirements. But JPMorgan analyst Charles Pearce said that the performance of listed cryptocurrency companies may be largely driven by the hype around artificial intelligence. "Part of the narrative of Bitcoin mining companies lies in their ability to transition to HPC data centers, and some stocks have benefited from this progress, which has nothing to do with the overall trend of the cryptocurrency market." (Decrypt)