Why Did the iShares Bitcoin Trust Drop 17% in April?
The iShares Bitcoin Trust ETF (NASDAQ: IBIT) tumbled 17.1% last month, according to data from S&P Global Market Intelligence. The exchange-traded fund launched earlier this year, and it's become a popular vehicle for people seeking Bitcoin exposure in their investment portfolio. Macroeconomic conditions created a favorable environment for the cryptocurrency during the first quarter, but those reversed in April.
Bitcoin has become a more popular asset class with broader acceptance among investors. That reputation shift is generally a force that stimulates demand, which helps Bitcoin holders. However, this legitimacy comes with consequences, such as exposure to the prevailing forces in global capital markets.
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Source Fool.com
