Cryptocurrency-themed ETFs Plunge Sharply as Fed Rate Hike Expectations Intensify, US Crypto Stocks Under Broad Pressure

Stock News11:36

Cryptocurrency-themed ETFs suffered a broad selloff, with the CSOP 2x Long MSTR (07799) dropping 15.9% to HK$3.82 and the CSOP 2x Long Coinbase (07711) falling 12.89% to HK$20.56 as of press time.

On the news front, Bitcoin briefly fell 2.3% on Wednesday, approaching the lower end of its recent trading range and hovering near $81,700, weighed down by stronger-than-expected US inflation data, rising expectations of further Federal Reserve rate hikes, and a selloff in technology stocks.

Beyond the decline in Bitcoin's price, cryptocurrency-related stocks in the US market also came under broad pressure. On Wednesday, US cryptocurrency exchange Coinbase (COIN.US) fell 4.9%, stablecoin issuer Circle Internet Group (CRCL.US) dropped 5.6%, and Bitcoin-holding company Strategy (MSTR.US) declined 5.9%.

Matt Hougan, Chief Investment Officer at Bitwise Asset Management, said the current global financial market environment remains very challenging. Hougan noted that high inflation and elevated energy prices are constraining global monetary liquidity, while growing market concerns over the investment outlook for large technology companies and AI are further dampening investors' appetite for risk assets.

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Hougan noted that high inflation and elevated energy prices are constraining global monetary liquidity, while growing market concerns over the investment outlook for large technology companies and AI are further dampening investors' appetite for risk assets.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cryptocurrency-themed ETFs Plunge Sharply as Fed Rate Hike Expectations Intensify, US Crypto Stocks Under Broad Pressure</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCryptocurrency-themed ETFs Plunge Sharply as Fed Rate Hike Expectations Intensify, US Crypto Stocks Under Broad Pressure\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036600163\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock News </p>\n<p class=\"h-time\">2026-10-15 11:36</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Cryptocurrency-themed ETFs suffered a broad selloff, with the <b>CSOP 2x Long MSTR (07799)</b> dropping 15.9% to HK$3.82 and the <b>CSOP 2x Long Coinbase (07711)</b> falling 12.89% to HK$20.56 as of press time.<br><br>On the news front, Bitcoin briefly fell 2.3% on Wednesday, approaching the lower end of its recent trading range and hovering near $81,700, weighed down by stronger-than-expected US inflation data, rising expectations of further Federal Reserve rate hikes, and a selloff in technology stocks.<br><br>Beyond the decline in Bitcoin's price, cryptocurrency-related stocks in the US market also came under broad pressure. 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