Bitcoin ETFs lose $1.16B as Bitwise calls selling ‘short-term’

An investment fund that holds a basket of assets, such as the shares in an index, and trades on a stock exchange like a single share.

ETFs offer low-cost, diversified investing and are a fast-growing way people save.

The first and largest cryptocurrency, created in 2009, with a fixed maximum supply and no central issuer.

Its price swings and adoption by funds and companies make it a bellwether for the whole crypto market.