Shares of the iShares Bitcoin Trust ETF ( IBIT -2.39%) fell 17% in February, according to data from S&P Global Market Intelligence. The BlackRock exchange-traded fund essentially tracks the price of Bitcoin.

Bitcoin's price was buoyed Wednesday on hopes President Trump would soften the punishing tariffs on key trade partners Canada and Mexico.

Bitcoin rebounds after U.S. Commerce Secretary Howard Lutnick hints at possible tariff relief, while Satoshi-era Bitcoin wallets moves $22 million after 14 years.

The big three cryptocurrencies are on the move today. Bitcoin ( BTC 2.06%), Ethereum ( ETH 2.14%), and Dogecoin ( DOGE 1.58%) are up 2.3%, 2.6%, and 1.7%, respectively, as of 12:30 p.m. ET. Earlier in the day, however, they were up as much as 6.1%, 5.5%, and 4.4%.

Increasing correlation with US stocks and growing fears of a "Trumpcession" have been key drivers of the Bitcoin price correction in recent weeks.