Seeking Alpha
2022-07-25 14:57:59

Bitcoin ETFs slide as the underlying cryptocurrency drops below $22K

Bitcoin Strategy exchange traded funds have declined 10% since Bitcoin (BTC-USD) hit a multi-week high last week. The slide has come as the crypto asset has now steadily declined below the $22,000 level.The financial market's three crypto ETFs ProShares Bitcoin Strategy ETF (NYSEARCA:BITO), Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF), and the VanEck Bitcoin Strategy ETF (BATS:XBTF) have all dropped in Monday's early going, retreating by 3.5%, 3.6%, and 3.4% respectively.At the other end of the spectrum, ProShares Short Bitcoin Strategy ETF (NYSEARCA:BITI), which offers a way for investors to potentially profit from a decline in the price of Bitcoin, has made some gains. The fund is +3.8% on the session and is +10.9% from its July 20th low.Moreover, Bitcoin itself now hovers near the $21,750 marker and is down 3.5% on the session, and trades to the downside by 54.2% on the bigger year-to-date picture.Both Bitcoin and its related ETFs remain under pressure as investors look ahead to this week's Federal Reserve interest rate decision on Wednesday.

获取加密通讯
阅读免责声明 : 此处提供的所有内容我们的网站,超链接网站,相关应用程序,论坛,博客,社交媒体帐户和其他平台(“网站”)仅供您提供一般信息,从第三方采购。 我们不对与我们的内容有任何形式的保证,包括但不限于准确性和更新性。 我们提供的内容中没有任何内容构成财务建议,法律建议或任何其他形式的建议,以满足您对任何目的的特定依赖。 任何使用或依赖我们的内容完全由您自行承担风险和自由裁量权。 在依赖它们之前,您应该进行自己的研究,审查,分析和验证我们的内容。 交易是一项高风险的活动,可能导致重大损失,因此请在做出任何决定之前咨询您的财务顾问。 我们网站上的任何内容均不构成招揽或要约