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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.
This news is republished from another source. You can check the original article here
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