Nikada
It was a tough week for cryptocurrency-linked stocks among the wider financial sector, as bitcoin (BTC-USD) extended its retreat, sliding 2.7%. BTC started to roll off its highs after the approval of exchange-traded funds investing directly in the token. JPMorgan Chase (JPM) CEO Jamie Dimon recently said that he would advise his clients not to touch the coin or any of the spot ETFs.
With the finance sector kicking off earnings season, traditional financial stocks (with $2B+ market cap) rose slightly for the week ended Jan. 19. The Financial Select Sector SPDR ETF (NYSEARCA:XLF) edged up 0.7%, compared with the S&P 500’s 1.2% ascent.
Topping the list of losers, Marathon Digital (NASDAQ:MARA) dropped 28% during a week in which it completed the purchase of two bitcoin (BTC-USD) mining sites from Generate Capital;
Riot Platforms (NASDAQ:RIOT), a fellow BTC miner, slid 21.4%;
India’s HDFC Bank (NYSE:HDB) shed 14.6% after…
