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Bitcoin ETF Goes From Boom to Bust After a Record U.S. Debut

  • BITO, down 9% this week, has slumped alongside crypto prices
  • Tough timing for industry’s benchmark debut: BI’s Psarofagis
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The crypto bloodbath has transformed a famous Bitcoin ETF that launched the most successful debut ever into one of the biggest losers for an issuer in their first two months of trading.

With a 30% drop, the ProShares Bitcoin Strategy exchange-traded fund, ticker BITO, is now one of the 10 worst performers when looking at returns two months after a public listing, Bloomberg Intelligence data analyzed by Athanasios Psarofagis show.