Crypto stocks Riot Blockchain, Bit Digital fall even as bitcoin, ethereum rise

A day after news that the bipartisan infrastructure bill in Congress proposes raising $28B from cryptocurrency investors, a number of crypto stocks are declining, while while bitcoin and most cryptocurrencies rise. Under the proposal, any broker that transfers digital assets would be required to file a return under a modified information reporting schedule, Coindesk said after seeing a draft of the bill. Among crypto names falling: Grayscale Bitcoin Trust (OTC:GBTC -2.2%), Riot Blockchain (RIOT -0.6%), Marathon Digital (MARA +0.6%), Bit Digital (BTBT +2.2%), SOS (SOS -3.3%), Coinbase (COIN -0.8%). Meanwhile Bitcoin (BTC-USD) recently trades at $39.7K, ethereum (ETH-USD) at $2,327, litecoin at ~$141, Binance Coin (BNB-USD) at $315, and dogecoin (DOGE-USD) at $0.20. SA contributor Andrew Walker explains why traditional finance is so intrigued by ethereum