European crypto ETN and ETP report: Monday, June 13

Markets • June 13, 2022, 12:29PM EDT
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European crypto investment vehicles opened the week in the red on Monday after a tumultuous day of trading.

Cryptocurrency markets were rattled on Monday following a Sunday announcement 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 "extreme market conditions."

This, in conjunction with a difficult macroeconomic climate at present — inflation in the US is at a 41-year high of 8.6% — pushed cryptocurrency prices down across the market. Bitcoin (BTC) and ether (ETH) 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%.

Here's how some of the major European crypto investment vehicles performed on Monday, June 13:

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Adam Morgan McCarthy profile picture Adam Morgan McCarthy

Adam Morgan is a reporter covering cryptocurrency, financial markets, and economics – anything from price movements, earnings reports, and inflation to the U.S. Federal Reserve interest rate decisions and everything in between. Adam is based in London.

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