European crypto ETN and ETP report: Monday, June 13

European crypto investment vehicles opened the week in the red on Monday after a tumultuous day of trading.from crypto lending platform Celsius, which revealed it was halting withdrawals. Celsius, which had about $12 billion in assets under management at the beginning of May, cited— inflation in the US is at a 41-year high of 8.6% —across the market. Bitcoin and ether are both testing multi-year lows on Monday.

European ETNs and ETPs suffered as a result of the volatility, with VanEck's Solana ETN losing up to 28.36% while its Tron ETN lost almost 20% during Monday's session. 21Shares Cardano and Polkadot ETPs held firmer, losing just 0.33% and 0.82% respectively on a tumultuous day for markets in Europe, which saw the Europe Stoxx 600 close down 2.26%.About Author

Adam has been based in London for the past year, initially freelancing and working for a start-up there before beginning a fellowship at Business Insider. He covers general crypto news and markets.

Source: News Formal (newsformal.com)

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