Crypto-linked stocks dip as MSCI to remove Strategy from indices
BUZZ-Crypto-linked stocks dip as MSCI to remove Strategy from indices Updates
** Cryptocurrency and blockchain-related stocks dip as index operator MSCI to remove bitcoin hoarder Strategy MSTR.O from its global indices
** MSCI says MSTR's large bitcoin holdings make it resemble an investment fund rather than an operating company
** Lower bitcoin prices BTC= also weigh on stocks; BTC down 4% at $71,333.88, ether ETH= down 3.5% at $11,996.95
** BTC trading at its lowest levels in 12 weeks
** Bitcoin hoarder MSTR down 6.6%, Circle Internet CRCL.N wobbles 5.3%
** Retail trading platform Robinhood Markets HOOD.O down 2.8%; shares of crypto exchange Coinbase Global COIN.O slide 4%
** Crypto miner Bit Digital BTBT.O down 2.2%, also weighed down by Q3 revenue miss
** BTC mining machine maker Canaan CAN.O drops 9.2%, the biggest decliner in the segment
** Riot Platforms RIOT.O, Mara Holdings MARA.O down 4.5% and 7.4%, respectively
** ProShares Bitcoin Strategy ETF BITO.P and iShares Bitcoin Trust ETF IBIT.O down around 4.4% and 4.6% each
** Shares of American Bitcoin ABTC.O, backed by the two eldest sons of US President Donald Trump, decline 8%
** Including session's move, BTC down over 42% YTD, ETH down nearly 33%
(Reporting by Jayasree Prabhu)