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Crypto Crisis Shrinks ETF Assets in Market That Embraced Them
Retail investors in Canada were quick to put money into cryptocurrency exchange-traded funds after regulators allowed a proliferation of products that track Bitcoin, Ether and other digital assets. They’ve lost most of it in a year. Canadian-traded crypto ETFs had just C$1.64 billion ($1.22 billion) in assets under management as of Nov. 18, according to calculations from National Bank of Canada analyst Daniel Straus. That’s down more than three-quarters from the C$7.3 billion value in those funds on Nov. 30 last year. The collapse of Sam Bankman-Fried’s FTX, on the heels of other bankruptcies in the sector, has ... (full story)