Companies closely associated with the cryptocurrency sector, such as Coinbase and MicroStrategy, are witnessing substantial gains in their stock prices as Bitcoin surges beyond the $35,000 threshold on October 24th.

Coinbase Global Inc., a prominent cryptocurrency exchange, and MicroStrategy Inc., a corporate entity heavily invested in Bitcoin, both experienced a notable uptick in their stock prices, rising by 14% and 12% respectively as the trading day began. Similarly, cryptocurrency mining firms like Marathon Digital Holdings Inc. and Riot Blockchain Inc. also reported impressive gains of more than 13% during the early trading hours.

Bit Digital, a company specializing in crypto mining infrastructure, saw a 4% uptick in its stock market performance today, coinciding with a 2% increase in Robinhood shares. Additionally, the Bitcoin Fear and Greed Index has transitioned into the green zone after predominantly residing in the 'fear' territory for the majority of the past month.

The upward trend observed in both the cryptocurrency market and related stocks aligns with growing expectations surrounding the potential approval of the first-ever Bitcoin spot exchange-traded fund (ETF) in the United States. This development, combined with Bitcoin's recent surge beyond the $31,000 mark just the day before, has propelled the shares of companies with exposure to the crypto space for a second consecutive day.

These positive developments in the cryptocurrency market indicate a rising sense of optimism, benefiting not only Bitcoin but also all institutional entities with a fundamental connection to digital assets.