Banking ETFs Become Unstable Amid Banking Crisis
  • last year
Bank ETFs are suffering their worst declines since 2008 as instability among regional banks persists and investors shift their funds to safer assets. The SPDR S&P Regional Banking ETF (KRE) has declined 18 percent. KRE’s top holding is New York Community Bancorp Inc, which recently purchased Signature Bank assets. The iShares U.S. Regional Banks ETF (IAT) has declined 23 percent. IAT's top 30 percent of holdings comprise PNC Financial Services Group ($PNC@US), US Bancorp ($USB@US), and Truist Financial Corp ($TFC@US). The ProShares Bitcoin Strategy ETF (BITO) is up over 35 percent as Bitcoin has rallied to $28,000 so far in March. SPDR Gold Shares (GLD) have gained more than 8 percent.
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