The havoc engulfing the cryptocurrency universe is rattling the world of exchange-traded funds.
Trading in the $600 million ProShares Bitcoin Strategy ETF (ticker BITO) was briefly halted on Wednesday after the fund plunged more than 6% in a matter of minutes, triggering the exchange’s downside volatility limit. The plunge came after a report that Binance is unlikely to follow through on its takeover of rival exchange FTX.com, according to people familiar with the matter.
