Crypto Stocks Rally After Trump Signs Stablecoin Bill Into Law

Stocks tied to the cryptocurrency industry saw a notable uptick on Monday, with Ether nearing its yearly high following the official signing of a key U.S. stablecoin bill by President Donald Trump late Friday.

The newly signed GENIUS Act has been hailed as a major milestone for the digital asset sector, offering long-awaited regulatory clarity. The legislation passed the House of Representatives with a strong majority vote of 308 to 122, following approval from the Senate.

Ether surged to $3,795.4, brushing against its 2025 peak reached over the weekend. Market watchers attribute the momentum to the GENIUS Act’s prohibition on yield or interest returns from regulated stablecoins, which analysts at Deutsche Bank believe is prompting a shift in investor focus toward Ethereum as an alternative for generating yield in decentralized finance (DeFi).

“This moment has been anticipated for a long time,” said Luke Nolan, senior research associate at CoinShares. He noted that while it’s too early to confirm a long-term shift, several positive indicators are currently favoring Ethereum.

Crypto-Linked Companies on the Rise

Shares of firms connected to the crypto sector edged upward in early trading. Coinbase Global and stablecoin issuer Circle Internet each posted modest gains of around 0.1%.

The rising enthusiasm extended to firms with cryptocurrency assets on their balance sheets. BitMine (BMNR.A), backed by billionaire Peter Thiel and chaired by Fundstrat’s Tom Lee, rose 2.7%. Other Ethereum-holding companies such as Bit Digital, BTCS, and SharpLink Gaming posted gains ranging between 2.3% and 8%.

GameStop, another firm investing in digital assets, continued its crypto pivot in the footsteps of MicroStrategy, whose shares have skyrocketed by nearly 3,000% since 2020. MicroStrategy added another 1.7% on Monday.

New Ventures and Market Expansion

One of the day’s biggest movers was Dynamix Corporation (DYNX.O), a blank-check firm whose stock jumped 26.2%. The surge came after news that The Ether Reserve, a new blockchain initiative backed by high-profile crypto investors, would merge with Dynamix to form The Ether Machine.

Elsewhere in the market, Solana reached its highest level since February. The ProShares Ultra Solana ETF (SLON.P) rallied 17.2%, while XRP inched up by 1%, trading near its all-time highs.

The overall market cap of the crypto sector reached a staggering $4 trillion on Friday, according to CoinGecko, reflecting increased institutional interest and a broader sense of optimism following the new regulatory breakthrough.