Cathie Wood’s Fintech ETF Bleeds Assets After 93% Return Last Year
Cathie Wood’s retail army has gone AWOL all year – even in her best-performing exchange-traded fund.
Cathie Wood’s retail army has gone AWOL all year – even in her best-performing exchange-traded fund.
For 71 days in a row, BlackRock Inc.’s Bitcoin fund enjoyed a remarkable run, amassing almost $18 billion in one of the biggest exchange-traded fund launches ever. Now, investors have stopped piling in as the crypto fever eases.
Another “DeFi Summer” is unfolding in what has traditionally been the most-speculative corner of crypto, with activity surpassing levels seen before the collapse of the TerraUSD stablecoin that sent the sector reeling almost two years ago.
Bullish Bitcoin traders appear to have scaled back their bets on the world’s largest cryptocurrency as its two major tailwinds subside.
The beating heart of the crypto bull market sweeping the world isn’t Miami, Paris or the Middle East. It’s South Korea, where speculation has reached such intensity that the won has supplanted the dollar as the most-used currency for swapping in and out of Bitcoin and other tokens.
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