Crypto ETFs Tumble Amid Bitcoin Rout (1 min read)
After crypto exchange giant, Binance, said it’s walking away from a planned purchase of FTX due to unspecified liquidity issues, the crypto market suffered another sell-off. Crypto-focused ETFs like ProShares Bitcoin Strategy ETF (BITO) and Amplify Transformational Data Sharing ETF (BLOK) plunged to an all-time low. At one point BITO was halted briefly after dropping more than 6% in just minutes. The only winner among the shake-ups is ProShares Short Bitcoin Strategy (BITI), which bets on falling bitcoin prices.