Digital-asset turmoil is sweeping through exchange-traded products, with one tracking the troubled Luna token seeing its price almost evaporate in what may be the biggest ETP wipeout ever.
The 21Shares Terra ETP (ticker: LUNA SW) tumbled 99% to 0.01 Swiss Francs on Thursday, having closed at 22.29 Swiss Francs on May 6. That was before the TerraUSD stablecoin, to which Luna is linked, crashed from its dollar peg -- triggering a collapse in Luna’s price. The VanEck Terra ETN (VLNA GR) dropped by a similar magnitude.
