Altcoins News

Story: Bitcoin ETFs Sink as Crypto Price Tumbles Below $40K

By Pankaj K

1 / 15

Bitcoin ETFs got hammered hard. The cryptocurrency's brutal slide on February 6 sent shockwaves through investment products tied to the digital asset, with futures-based funds…

2 / 15

ProShares Bitcoin Strategy ETF dropped 6.6% in a single session, mirroring Bitcoin's nasty decline that pushed prices down to around $40,000.

3 / 15

Traditional finance firms are keeping their cards close to their chest. Fidelity, one of the major players pushing crypto ETFs, didn't respond when reached for comment about…

4 / 15

The SEC's regulatory stance hangs over everything like a dark cloud, though officials haven't dropped any new bombshells lately.

5 / 15

Grayscale Bitcoin Trust saw its discount to net asset value balloon to nearly 20% on February 5.

6 / 15

VanEck's Bitcoin Strategy ETF can't catch a break either.

7 / 15

The fund launched with big expectations but it's been getting crushed along with everything else Bitcoin-related.

8 / 15

ARK Invest's Cathie Wood made waves on February 4 by buying more Bitcoin shares despite the carnage.

9 / 15

Chicago Mercantile Exchange reported Bitcoin futures trading volumes jumped on February 6 as traders tried to capitalize on the chaos.

10 / 15

MicroStrategy CEO Michael Saylor doubled down on his Bitcoin bet during February 3 earnings, revealing the company still holds over 130,000 coins despite the recent pain.

11 / 15

Coinbase saw Bitcoin trading activity surge 15% compared to the previous week as of February 6.

12 / 15

Federal Reserve's decision to hold rates steady on February 2 added another wrinkle to the situation.

13 / 15

Binance temporarily halted Bitcoin withdrawals on February 6 due to technical issues, adding to the day's stress.

14 / 15

Square's CFO Amrita Ahuja reaffirmed the payments company's Bitcoin commitment on February 5, saying they still view it as key to their financial strategy despite the volatility.

15 / 15

Marathon Digital Holdings reported decreased mining output on February 4 as network difficulties rose.

The Currency Analytics

Want the full story?