BITO is trading at $10.80, down 3.05%, as Bitcoin’s continuing decline weighs on the fund.
- The crypto selloff coincided with substantial leveraged liquidations and nearly $485 million in spot Bitcoin ETF outflows on October 7.
- Middle East escalation and higher oil prices are stoking inflation and rate concerns; elevated Treasury yields and broader risk aversion are pressuring digital assets. Bitcoin-linked funds also fell as Bitcoin retreated below $84,000.