Electronic trading major IG has highlighted which cryptocurrency related equities have been the most popular with IG investors this year.
Coinbase, Argo Blockchain and Riot Blockchain have been the top three most popular cryptocurrency stocks with IG investors so far in 2021.
- Coinbase Global Inc
Coinbase Global (COIN) has been incredibly popular amongst IG investors since it had an initial public offering (IPO) back in April this year and was the most popular share over ISA season. As you may have expected, Coinbase has not managed to maintain being the most popular stock after the initial IPO-hype but it is still ranked within the top 15 stocks year-to-date, even with its shares not being publicly traded for the first few months of 2021. Overall, it has been the most traded cryptocurrency related stock in 2021 amongst IG investors.
However, recently Coinbase announced that the US Securities and Exchange Commission (SEC) planned to take legal action against Coinbase if it proceeded to launch a digital asset lending product, called Lend. Coinbase’s share price fell 12.4% in September.
- Argo Blockchain PLC
IG investors have shown a keen interest in Argo Blockchain (ARB) this year and is the 15th most popular stock in 2021 so far. Argo, based in London, became the first crypto-mining service provider to list on the London stock Exchange (LSE) back in August 2018 and since then has seen an astronomical rise in its share price. The huge jump in Argo’s share price came in conjunction with the crypto boom we saw in the run up to Christmas 2020 and is up +685.8% since its IPO, or 89.1% annually.
- Riot Blockchain Inc
The third most popular cryptocurrency related stock this year has been Riot Blockchain Inc (RIOT). Similarly to Argo Blockchain, Riot is primarily a cryptocurrency mining company with approximately 95% of its revenue generated through cryptomining. The remaining 5% of Riot’s revenue is derived from its data centre hosting operations. An important differentiator is that Riot now exclusively focuses on bitcoin mining as of early 2020, prior to this the company also mined bitcoin cash and Litecoin.
These three stocks as well as over 10,000 shares are available to trade on the IG share dealing platform from as little as £3 per trade. To trade:
- Open a share dealing account with IG.
- Fund your account. The IG minimum deposit via card is £250.
- Place your first trade. Open the IG platform and trade over 10,000 shares available through IG.