- Crypto-related stocks increased in after-hours trading even as cryptocurrency prices declined.
- Hut 8 led equity gains after an analyst upgraded its rating citing its new AI infrastructure focus.
- Coinbase noted U.S. tax changes could benefit blockchain-based prediction markets over traditional sportsbooks.
- Treasury strategies diverged as Strategy raised cash through stock sales, while Bitmine reportedly purchased over 13,000 ETH.
- JPMorgan is weighing cryptocurrency trading options in response to rising institutional demand and regulatory shifts.
Crypto-linked equities outperformed the broader cryptocurrency market on Monday during after-hours trading. Stocks such as Hut 8 saw notable gains, driven by positive analyst coverage. Meanwhile, major cryptocurrencies, including Bitcoin, experienced a modest decline.
Hut 8 shares rose 1.1% after hours following a more than 14% surge during regular trading. According to an analyst from Benchmark, who raised the price target from $78 to $85, the company’s recently announced 15-year, $7 billion agreement to provide AI data center capacity in partnership with Fluidstack, and backed by Google, marks a shift towards institutional digital infrastructure. This move is seen as an improvement over previous crypto-focused strategies.
In contrast, Strategy (MSTR) saw a small decline of 0.3% in regular hours before increasing 0.6% after the close. The company has not made new bitcoin purchases recently but increased its cash reserves by approximately $748 million through stock sales. Meanwhile, Ethereum-focused Bitmine Immersion Technologies reportedly purchased over 13,000 ETH, worth about $40 million, although this transaction has not been officially confirmed, as tracked by Lookonchain using Arkham Intelligence.
Coinbase shares edged up 0.3% after hours, following comments on proposed U.S. tax changes starting in 2026 that would limit gambling loss deductions. The company suggested that this could make blockchain-based prediction markets more appealing compared to traditional sportsbooks, as discussed in their Crypto Market Outlook 2026.
Additionally, JPMorgan is reportedly considering offering spot and derivatives cryptocurrency trading to institutional clients, according to a recent report. The bank’s move is in response to growing client demand and a changing regulatory climate.
Despite these developments in the equity markets, major cryptocurrencies like bitcoin fell 0.3% over the past 24 hours, with sentiment data from CoinGlass showing $204 million in liquidations. Retail sentiment around bitcoin remained “extremely bearish” during this period.
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