Crypto bloodbath: Bitcoin ETF goes from boom to bust after record US debut

The crypto massacre has reworked a well-known Bitcoin ETF that launched essentially the most profitable debut ever into one of many greatest losers for an issuer of their first two months of buying and selling.

With a 30% drop, the ProShares Bitcoin Strategy exchange-traded fund, ticker BITO, is now one of many 10 worst performers when taking a look at returns two months after a public itemizing, Bloomberg Intelligence knowledge analyzed by Athanasios Psarofagis present.

Thank the broader retreat in digital currencies because the Federal Reserve readies to withdraw pandemic stimulus. Bitcoin, the biggest digital asset by market worth, misplaced greater than