MicroStrategy Incorporated (NASDAQ:MSTR) shares traded higher Monday after exchange operator Cboe refiled Bitcoin ETF proposals.

What To Know: Cboe resubmitted an application with the SEC seeking approval for a Bitcoin (CRYPTO: BTC) ETF managed by Fidelity Investments on Friday, per Reuters.

Cboe said it would collaborate with Coinbase (NASDAQ:COIN) in order to prevent market manipulation during the ETF launch process.

According to data from Benzinga Pro, MSTR stock experienced above-average trading volume of 1.1 million shares on Monday compared to its average volume of 898,680.

MicroStrategy also has elevated short interest with 27.2% of shares currently sold short, which could have helped to fuel Monday's outsized move.

MicroStrategy is a business intelligence, mobile software and cloud-based services company, but more than anything else, it's a bet on Bitcoin. In its most recent earnings report, MicroStrategy said it increased its bitcoin holdings to 140,000.

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MSTR Price Action: Shares of MSTR closed Monday up 10.3% at $377.84, according to Benzinga Pro. 

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