Bitcoin Falls as Second Bitcoin ETF Goes Live in the US
cryptonews.comThe price of bitcoin (BTC) fell Friday morning US time just as the second bitcoin futures-backed ETF, the Valkyrie Bitcoin Strategy ETF with ticker BTF, went live on the Nasdaq stock exchange.
Since going live at 09:30 ET (13:30 UTC), BTF was down by 3.15% from a price per share of USD 25.34 for the first recorded trade, to USD 24.54 at press time (14:58 UTC).
The new ETF closely tracked the spot price of bitcoin as seen on Coinbase in the first hour of trading. Worth noting, however, was that the drop in the spot price of bitcoin happened almost immediately upon the ETF going live on Wall Street.
Meanwhile, the fall in the price of bitcoin also followed comments from US Federal Reserve Chair Jerome Powell Friday morning US time, where he said
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