(Reuters) - Bitcoin, the world's largest cryptocurrency by market value, was up by around 6.06% at $89,359 at 1620 GMT on Sunday.
Ether, the second largest cryptocurrency, was up 1.36% at $2,253 at 1622 GMT on Sunday.
This comes after President Donald Trump said on Sunday that his recent executive order on digital assets directed his team to create "a Crypto Strategic Reserve that includes XRP, SOL, and ADA."
The Republican president won support from the crypto industry in his 2024 election bid, and he has quickly moved to back their policy priorities. Under his Democratic predecessor, Joe Biden, regulators cracked down on the industry in a bid to protect Americans from fraud and money laundering.
Trump is hosting the first White House Crypto Summit on Friday. His family has also launched its own coins.
It's not clear how the new stockpile will be set up or work.
(Reporting by Trevor Hunnicutt and Katharine Jackson, and Rishabh Jaiswal in Bengaluru; Editing by Alistair Bell and Bill Berkrot)