SoFi Technologies Inc. (NASDAQ:SOFI) shares were trading higher earlier but have since pared those gains to trade roughly flat, even as Bitcoin trades around $85,000 today after closing above its 50-week moving average for the first time in 45 weeks.
- SoFi shares are trending higher. Why is SOFI stock advancing?
Bitcoin’s Rally Lifts Crypto-Exposed Fintechs
Bitcoin surged more than 5% over the past 24 hours, with the move fueled in part by a short squeeze in the derivatives market. That momentum has lifted crypto-linked equities broadly, with names like Strategy, MARA Holdings and Coinbase all trading higher on the news.
Why SoFi’s Reaction Has Been Muted
SoFi offers crypto trading, its own SoFiUSD stablecoin and blockchain-based payments through a partnership with Lightspark, giving it real, if still limited, exposure to the crypto ecosystem. The company’s actual crypto revenue remains modest — net crypto revenue totaled just $2.0 million for the first half of 2026 — meaning the stock’s participation in crypto rallies tends to reflect investor sentiment and thematic positioning more than a direct financial windfall. SoFi has followed this pattern before, jumping more than 5% during a similar Bitcoin-driven rally on August 21, though today’s early gains have since faded.
SoFi Shares Trade Flat
SOFI Price Action: At the time of publication, SoFi shares are trading at $16.95, according to data from Benzinga Pro.
Image via Shutterstock
Login to comment