BUZZ - Crypto-related stocks fall as MSCI removes MSTR from its index

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November 12 - ** Cryptocurrency and blockchain-related stocks fell after index operator MSCI removed (link) Bitcoin holder MicroStrategy MSTR.O from its global indices

** MSCI stated that MSTR holds large amounts of Bitcoin, making it more like an investment fund than an operating company

** The price of Bitcoin BTC= dropped, also weighing on related stocks; Bitcoin fell 4% to $71,333.88, while Ethereum ETH= dropped 3.5% to $11,996.95

** Bitcoin is trading at its lowest level in 12 weeks

** Bitcoin holder MSTR dropped 6.6%, Circle Internet CRCL.N declined 5.3%

** Retail trading platform Robinhood Markets HOOD.O fell 2.8%; cryptocurrency exchange Coinbase Global COIN.O declined 4%

** Cryptocurrency miner Bit Digital BTBT.O fell 2.2%, as its third-quarter revenue missed expectations and also dragged down its stock price (link)

** Bitcoin mining rig manufacturer Canaan CAN.O fell 9.2%, the biggest drop among the sector's stocks

** Riot Platforms RIOT.O and Mara Holdings MARA.O dropped 4.5% and 7.4% respectively

** ProShares Bitcoin Strategy ETF BITO.P and iShares Bitcoin Trust ETF IBIT.O dropped by about 4.4% and 4.6% respectively

** American Bitcoin company ABTC.O, supported by two sons of U.S. President Donald Trump, saw its share price drop by 8%

**Including today’s loss, Bitcoin (BTC) has fallen more than 42% so far this year, and Ethereum (ETH) is down by nearly 33%

(To facilitate non-English speakers, Reuters has automated the translation of its reports into several other languages. As automated translation may be inaccurate or lack necessary context, Reuters does not guarantee the accuracy of automated translations and provides them purely for reader convenience. Reuters accepts no liability for any damage or losses caused by use of the automated translation function.)