BUZZ - Cryptocurrency-related stocks decline as MSCI removes Strategy from its index

November 12 - ** As index operator MSCI removed Bitcoin holder Strategy MSTR.O from its global indices, cryptocurrency and blockchain-related stocks fell in pre-market trading

** The decline in Bitcoin price BTC= also dragged related stocks lower; Bitcoin dropped 1.9% to $72,879.54, and Ethereum ETH= fell 2% to $2,026.81

** Crypto miner Bit Digital BTBT.O dropped 9.3%, making it one of the biggest decliners in the sector, as third-quarter revenue missed expectations, further weighing on the stock (link)

** Riot Platforms RIOT.O and Mara Holdings MARA.O fell 3% and 3.1% respectively

** ProShares Bitcoin Strategy ETF BITO.P and iShares Bitcoin Trust ETF IBIT.O both declined over 2%

** American Bitcoin ABTC.O, supported by the two eldest sons of U.S. President Donald Trump, fell 1.9%

** Hut 8 HUT.O subsidiary ABTC also fell 3.1%

** Bitcoin holder MSTR fell 6.2%, and Circle Internet CRCL.N slumped 3.8%

** Retail trading platform Robinhood Markets HOOD.O fell 2.5%

** Bitcoin mining machine maker Canaan CAN.O dropped 4.3%

** As of the previous trading day’s close, Bitcoin has dropped more than 17% year-to-date, and Ethereum has dropped more than 32%

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