Many traders are currently seeking to minimize risk due to the underperformance of U.S. stocks. This caution is evident in the negative funding for alternative contracts, suggesting a reduction in long-term leverage. The recent 8% drop in BTC’s value, falling below $62,000, represents its most significant retreat since March 2023. However, the price had slightly recovered to $62,300 at the time of publication, according to CoinMarketCap data.
BlackRock is set to serve as a broker-dealer with the authority to create and redeem shares of the ETF.
