By Dave Sebastian

Shares of bitcoin mining company Stronghold Digital Mining Inc. rose more than 50% in their trading debut to around $29.61 Wednesday.

The company had priced its initial public offering at $19 a share.

Stronghold Digital Mining's debut follows the trading of the first U.S. exchange-traded fund linked to bitcoin. The new fund, which holds bitcoin futures contracts rather than the coins themselves, makes it easier for regulated institutions to get exposure to bitcoin and the broader crypto market.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

October 20, 2021 11:51 ET (15:51 GMT)