All but one of the European crypto ETNs and ETPs tracked by The Block closed down on Friday following a turbulent week in the markets.
Crypto lending platform Celsius set the tone this week as it halted withdrawals on Sunday evening, causing fears of contagion. At the same time markets opened the week down as anticipation of a higher than expected interest rate hike from the Fed was priced in — an increase of three-quarters of a percent was announced on Wednesday, the highest since 1994.
Amid this backdrop, and with several prominent crypto companies announcing layoffs, bitcoin (BTC) and ether (ETH) toyed with multi-year lows as they tested falling below $20,000 and $1,000, respectively. Crypto ETNs and ETPs traded accordingly and the majority closed down on Friday.
21Shares crypto ETP products closed down for the most part, except for its Solana Staking ETP which added 0.27% on Friday.
Here’s how some of the major European crypto investment vehicles performed on Friday, June 17:
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Source: https://www.theblock.co/post/152754/european-crypto-etn-and-etp-report-friday-june-17?utm_source=rss&utm_medium=rss