BITO is trading at $10.45 (-3.06%) after hawkish remarks from Federal Reserve Chair Kevin Warsh at the August 28 Jackson Hole speech and Bitcoin’s pullback.
- Warsh emphasized persistent inflation, reduced forward guidance, and no clear improvement in underlying price trends.
- Bitcoin initially weakened during the address and struggled to hold above $80,000.
- Approximately $6.44 billion in Bitcoin options settled, amplifying intraday crypto volatility as Bitcoin’s retreat from earlier highs pressured the futures-based ETF.