All except one of the crypto investment vehicles tracked by The Block closed the week down on Friday following a tumultuous day of trading in Europe.
The European Central Bank announced its first interest rate hike — a 0.25% raise — since 2011 on Thursday and on Friday stocks and investment vehicles traded down across the board as the market reacted.
Trading in Europe and the US was further impacted by the latest inflation numbers from across the Atlantic — US inflation hit a 41-year high of 8.6%.
As a result of this rough macroeconomic background, several crypto ETNs and ETPs closed down significantly, including 21Shares Tezos and Cardano ETPs which lost 7.8% and 6.12%, respectively.
Here’s how some of the major European crypto investment vehicles performed on Friday, June 10: