Bitcoin Slump Claims New Victims: Leveraged ETFs Tied To Strategy Suffer Majo...
Despite a 9% recovery on Tuesday, Bitcoin (BTC) has experienced considerable volatility, with its price plummeting to as low as $84,000 just 24 hours ago. This downturn has had a significant impact on Strategy (previously MicroStrategy) the public company that holds the largest BTC reserves, currently boasting over 650,000 coins. Strategy T-Rex ETFs Plummet Nearly 85% NewsBTC reported that the company’s CEO, Phong Le, suggested the possibility of selling some of their Bitcoin holdings in light of the current market conditions. Alongside this, the company’s leveraged exchange-traded....
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The highly anticipated Fusaka Upgrade for Ethereum is on the verge of going live on Wednesday, heralding significant enhancements to the network’s overall functionality. Analysts contend that this pivotal development could usher in a considerable supply crunch for ETH, potentially boosting its price during a challenging period for the broader cryptocurrency market. Layer 2 Solutions To Boost ETH Burn According to analysts at Bull Theory, the Fusaka Upgrade integrates components from previous upgrades—Osaka, Fulu, and PeerDAS—but its most impactful feature is its resolution of one of....
Teucrium Investment Advisors has launched the first-ever leveraged exchange-traded fund (ETF) tied to XRP in the United States. The fund, officially titled the Teucrium 2x Long Daily XRP ETF, will begin trading today on NYSE Arca under the ticker XXRP. Leveraged XRP ETF Makes US Debut The ETF is structured to deliver twice the daily […]
Crypto enthusiasts and the government have long contended over the Bitcoin ETF. Let’s examine Bitcoin spot vs futures ETFs. How many Bitcoin ETFs are there?There are various companies offering Bitcoin ETFs, and each is available on their own respective exchanges.While the only Bitcoin ETFs in existence are Bitcoin futures ETFs, there are quite a few out there in which one can choose to invest. This article previously mentioned the ProShares BITO Bitcoin futures ETF, which currently holds around $1 billion in investments. BITO is listed on the Chicago Mercantile Exchange (CME). Another....
Bitcoin and Ethereum ETFs experienced their worst weekly stretch since debut, as risk appetite declined and investors de-risked heading into quarter-end. Related Reading: Messaging App Bitchat Sees Unprecedented Boom Amid Madagascar Turmoil U.S. spot Bitcoin ETFs saw approximately $902.5 million in net outflows for the week of Sept. 22–26, ending a four-week inflow streak. Ethereum […]
ETF issuer Volatility Shares recently filed with the US SEC to launch highly leveraged XRP ETFs, alongside other cryptocurrencies and stocks. Particularly, Volatility Shares has decided to file for a 5× leveraged XRP ETF, a move that caught many traders and analysts off guard. Discussions have intensified among investors following the filing, as it stands […]