Shares of crypto-related companies and funds ended sharply lower Monday, with Coinbase’s shares finishing at the lowest level in history, as both bitcoin and major U.S. stock indexes finished at multi-month lows.
Shares of Coinbase Global Inc.
plunged 19.5% to end at $83.51 Monday, while booking the worst single-day decline in history, according to Dow Jones market data. The crypto exchange’s shares fell more than 77% from the all-time high of $368.90 set in November, when bitcoin
also hit a record high, according to FactSet data.
For other crypto-related companies, shares of Michael Saylor’s MicroStrategy Inc.
lost 25.6% to end at $219.05.
Mining company Riot Blockchain Inc.
shares closed 19.2% lower at $7.67. Shares of Marathon Digital Holdings Inc.
lost 19.2% to $12.08. Another miner, Ebang International Holdings Inc.
lost 6.1% to end at $0.81.
Advanced Micro Devices Inc.
dropped 9.4% to $86.36 at Thursday close.
Among crypto funds, ProShares Bitcoin Strategy ETF
went down 14% to $19.23 Thursday, while Valkyrie Bitcoin Strategy ETF
was down 14% to $11.93. VanEck Bitcoin Strategy ETF
14% to $30.17.
Grayscale Bitcoin Trust
plunged 17% to $20.65.