Fund managers are slashing the cost of exchange traded products to lure investors back into the asset class amid the ongoing crypto crash.
Cryptocurrency specialist 21Shares, a Swiss group, has launched a new vehicle that tracks the price of bitcoin that undercuts rivals — and even its own flagship products — in an effort to tempt investors as they try to weather the bear market.
The launch comes amid a painful sell-off for all things crypto, with the price of bitcoin down 70 per cent from its November highs to $19,430, and the market value of the top 500 crypto tokens having slumped to less than $1tn from a high of $3.2tn.
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