Bitcoin Is Hot But Crypto Stocks Get a Cold Shoulder

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Equity investors have yet to pile back into crypto-related stocks with the same conviction as Bitcoin traders. Since hitting a six-month low in late January, Bitcoin prices have surged more than 30% including a 14% jump in March. Meanwhile, the NYSE FactSet Global Blockchain Technologies Index -- which tracks 35 stocks with exposure to cryptocurrencies including Riot Blockchain Inc. and Galaxy Digital Holdings Ltd. -- remains 13% lower for 2022.

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