U.S.-listed crypto shares jumped before the open on Thursday after a half-percentage point interest rate cut sparked a flight into risky assets, adding to the momentum of an industry that has already secured some big wins this year.

Today’s anticipated reduction in the federal funds rate could "trigger" additional upside in cryptocurrency prices.

Hayes explained that demand for tokenized Treasuries, a product affected by interest rates, could drop if rates stay low. He added that a rate cut could increase inflation and make the Japanese yen stronger,