Michael Burry sells 25% of his semiconductor ETF puts but stays bearish on chips

A material, usually silicon, used to make the chips that process and store information in electronic devices.

Chips power everything from phones to cars, so their supply has become a strategic issue for governments.

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.

A digital currency secured by cryptography and recorded on a blockchain, without a central bank issuing it.

Crypto prices are volatile, and governments are still deciding how to regulate it.