Source: Tech – South China Morning PostThe bitcoin rally that welcomed a wave of new investors through easy-to-access exchange-traded funds (ETFs) has officially gone underwater.
Investors in US ETFs that offer direct access to the cryptocurrency are now sitting on collective losses.
The average cost basis across all ETF inflows sits at approximately US$89,600 – a level bitcoin breached on Tuesday, according to Sean Rose at market intelligence firm Glassnode.
That figure reflects the flow-weighted average price of all ETF inflows…Read More