Crypto stocks rally after Trump lays out plans for strategic reserve

Cryptocurrency and blockchain-related stocks rise before the bell after President Donald Trump sets plans for new U.S. strategic reserve

On Sun, Trump said in a post on Truth Social that bitcoin and ether will be at the heart of a new crypto reserve that would include a range of tokens such as XRP, solana and cardano

It was the first time the U.S. President had named which assets would be involved

Bitcoin BTC=, world's biggest cryptocurrency, tumbled on Fri to lowest levels since Nov amid global risk-off sentiment, and had been sliding for weeks on disappointment Trump had not followed through on pledges to loosen regulation

BTC, which jumped nearly 10% on Sun, last off ~1% at $93,060

Ether ETH=, which rose ~13% on Sun, last off ~6% to around $2,370

Shares of bitcoin hoarder Strategy MSTR.O, formerly known as MicroStrategy, surges 13% premarket

Crypto exchange Coinbase Global COIN.O up ~10%, while U.S.-listed shares of blockchain farm operator Bitfarms BITF.O up 11%

Crypto miners lift: Riot Platforms RIOT.O , Mara Holdings MARA.O,, Hut 8 HUT.O and Bit Digital BTBT.O all up in range of 8.5%-10.5%

ProShares Bitcoin Strategy ETF BITO.P and iShares Bitcoin Trust ETF IBIT.O both up >10%

In 2024, BTC more than doubled in value