Leveraged ETFs Linked to Strategy Plunge Nearly 50% in Last Five Days
Two Strategy-linked leveraged ETFs (MSTX and MTSU) have seen their prices plummet nearly 50% in the past five days. This comes after Bitcoin fell below $87,000 on Tuesday. As of Tuesday's close ET, MSTX was trading at $23.83 per share and MTSU at $4.94 per share, down sharply from last week's prices of more than $43 and $9, respectively. Meanwhile, shares of Strategy (formerly MicroStrategy) also fell nearly 10 per cent to about $255 per share. Geoffrey Kendrick, global head of digital asset research at Standard Chartered, said Tuesday that risk aversion in traditional markets is affecting the digital asset industry.
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