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(Bloomberg) -- Cryptocurrency investors waded back into the market last week, riding a surge in Bitcoin. Most Read from BloombergNewsom Says California Is Now the World’s Fourth-Biggest EconomyNYC’s Congestion Toll Raised $159 Million in the First QuarterNew York City Transit System Chips Away at Subway Fare EvasionAt Bryn Mawr, a Monumental Plaza Traces the Steps of Black HistoryThe Last Thing US Transit Agencies Should Do NowExchange-traded funds tracking Bitcoin and Ether attracted more than

Bitcoin (BTC) miners' first-quarter results may disappoint because the hashprice, a measure of daily mining profitability, fell further and trade tariffs weighed on the market, asset manager CoinShares (CS) said in a blog post on Friday. "Q2 results may show deterioration, as tariffs on imported mining rigs range from 24% (Malaysia) to 54% (China)," analysts led by James Butterfill wrote. Bitcoin miners that are dependent on older or less-efficient rigs are faced with higher exposure to these tariffs, the report said.

The Coinbase Bitcoin Yield Fund opens for business on May 1 and promises returns initially from basis trading, with lending and options strategies to be used in the future, according to launch partner Aspen Digital.

According to Standard Chartered, Bitcoin could surge to $120K by Q2, so the company urges investors to act now.

Strategic allocation away from U.S. assets is likely to be the catalyst for move to a new record.

The company stack is worth more than $52 billion at bitcoin's current price of $95,000.

Only a handful of cryptocurrencies, such as Bitcoin (CRYPTO: BTC) and XRP (CRYPTO: XRP), have been able to avoid the worst of the declines in response to President Donald Trump's new tariffs. Most top cryptocurrencies are down at least 20% for the year, with two major categories of cryptocurrencies -- Layer 1 blockchain networks and meme coins -- getting slammed especially hard. Layer 1 blockchain networks, such as Ethereum (CRYPTO: ETH), Solana (CRYPTO: SOL), Cardano (CRYPTO: ADA), Sui (CRYPTO: SUI), and Avalanche (CRYPTO: AVAX), have declined significantly.