The Nasdaq Crypto Index (NCI) closed Sunday (11/27/22) 1.2% above last week’s closing. The index’s neutral performance was influenced by ether (ETH), up 2.8%, while bitcoin (BTC) remained stable.
Coming out of a week dominated by fears that Genesis Global Capital would be forced to declare bankruptcy, investors braced for more bad Genesis news and the possibility that other counterparties might become insolvent before the Thanksgiving holiday due to FTX’s collapse.
On Monday, BTC prices began to sink around midday on the East Coast after Bloomberg published an article claiming that Genesis Capital was “struggling” to raise the $1 billion it would need to remain solvent. Genesis Global reacted to the article by releasing a statement that clarified it had “no plans to file bankruptcy imminently.” As closing hours neared for stock markets in the US, BTC registered its weekly low of $15,665—its lowest price point in over two years.
Crypto assets registered a modest recovery on Monday evening, but fell again during early hours of Tuesday. ETH reached its weekly low of $1,082 shortly after the Wall Street Journal published an article confirming Bloomberg’s unidentified Genesis source. In the article, the WSJ claimed that Binance had refused to bail out the troubled crypto lender due to potential conflicts of interest. The article also cited that Genesis had approached private equity firm Apollo Global Management, but did not reveal the state of those negotiations.
Crypto markets began recovering as US markets opened on Tuesday and regained upward momentum in the afternoon when Cleveland Fed President Loretta Mester stated that it “makes sense that we can slow down a bit the … pace of (rate) increases.” Her comments echoed those made by other Fed officials, all of which suggested that the worst of the current rate hike cycle is in the rear view mirror. Before Tuesday gave way to Wednesday, all major US stock indexes closed in the green, BTC gained over $750 and ETH surged by $80.
On Wednesday, prices began losing steam as US stock markets opened. However, later that day, November’s Fed minutes were released. The FOMC’s meeting notes reaffirmed that “a substantial majority of (meeting) participants judged that a slowing in the pace of increase would likely soon be appropriate”.” News that the Fed had confirmed its more dovish outlook in writing would ensure that traditional markets closed in the green once again and that crypto markets would sustain an upward trajectory until late in the night, when BTC reached its weekly high of $16,753.
On Thursday, BTC prices would taper down, before recovering on Friday to settle just above $16,500. BTC prices would remain stable while moving sideways as trading volume slowly fell throughout the weekend. ETH’s price slowly rose throughout the entirety of Friday, eventually registering its weekly high of $1,221 in the day’s final hours and before stabilizing just below that threshold for the remainder of the weekend.
Looking ahead
Investors will continue to monitor the fallout of the FTX collapse, but some analysts believe an eventual Genesis Capital’s bankruptcy may have already been priced in. On Wednesday, the release of the eurozone Core Consumer Price Index (CPI) will be on the radar of investors concerned about global inflation. On Thursday, the release of the Personal Consumption Expenditure (PCE) index could confirm that inflation is waning in the US and reassure investors that the Fed will announce a 50 bps rate hike in mid December.
FTX hack continues to puzzle crypto analysts
During the last two weeks, investors have been monitoring developing stories related to mysterious hacks. After a week of disastrous news for FTX, the troubled exchange managed to give investors one final scare before turning in for the weekend by announcing it had been hacked. Initial reports suggested $600 million in tokens were drained from FTX wallets
The breach was originally divulged by an account administrator in an FTX Support Telegram chat. Later, FTX General Counsel Ryne Miller claimed in a tweet that the transactions resulted from “precautionary steps to move all digital assets to cold storage.” Others speculated that the funds were moved at the behest of Bahamian Financial authorities. Neither statements appear to be true.
During the following week, the hacker converted such a large volume of tokens into ETH, making the wallet in question the 35th largest amongst all ETH addresses on November 16th. Last week, the malicious actor spent the weekend converting millions of ETH to Ren bitcoin (renBTC), an ERC-20 token used to represent the value of BTC in other blockchains, possibly in an attempt to launder the funds. Analysts continue to monitor the hacker’s activities, and we’ll keep a close eye on the matter to make sure Hashdex investors stay up-to-date with the unfoldings.
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JPM Global Government Bond Active UCITSETF förvaltas aktivt och investerar främst i globala statsobligationer och kvasi-statliga obligationer från utvecklade och tillväxtmarknader. Vid investeringsbeslut tar investeringsförvaltaren systematiskt hänsyn till ESG-kriterier. Fonden är också tillgänglig för investerare med valutasäkring mot amerikanska dollar.
L&G UK Equity UCITSETF investerar i brittiska medelstora och stora företag och täcker cirka 85 procent av den brittiska aktiemarknaden. Företag som bedriver ren kolbrytning, är involverade i produktion av kontroversiella vapen eller har åsidosatt någon av principerna i FN:s Global Compact är undantagna.
Namn
ISIN Kortnamn
Avgift
Utdelnings- policy
JPM Global Government Bond Active UCITSETF – USD (acc)
Produktutbudet inom Deutsche Börses ETF- och ETP-segment omfattar för närvarande totalt 2 456 ETFer, 202 ETCer och 259 ETNer. Med detta urval och en genomsnittlig månatlig handelsvolym på cirka 23 miljarder euro är Xetra den ledande handelsplatsen för ETFer och ETPer i Europa.
Invesco Physical Platinum (8PSA ETC) med ISIN IE00B40QP990, spårar spotpriset på platina i USD.
Den börshandlade produktens TER (total cost ratio) uppgår till 0,19 % p.a. Invesco Physical Platinum är den billigaste ETC som följer Platinum-indexet. Denna ETC replikerar resultatet av det underliggande indexet med en skuldförbindelse med säkerheter som backas upp av fysiska innehav av ädelmetallen.
Invesco Physical Platinum är en liten ETC med tillgångar på 23 miljoner euro under förvaltning. Denna ETC lanserades den 13 april 2011 och har sin hemvist i Irland.
Översikt
Invesco Physical Platinum ETC syftar till att tillhandahålla prestanda för spotplatinapriset genom certifikat med säkerhet i fysisk platina. Varje Platinum ETC är ett certifikat, som säkras av fysisk platina som hålls i J.P. Morgan Chase Banks London-valv. Emittenten av certifikaten, Invesco Physical Markets PLC (Invesco PMP), är ett irländskt hemvist företag som administreras av J.P. Morgan Administration Services (Ireland) Limited.
Investeringsavkastningen uppnås genom att hålla fysisk platina, som värderas dagligen på PM-auktionen för London Bullion Market Association (”LBMA”) platinapris. ETC kommer att använda en ”swing bar”-metod, där platinaplattor/tackor som är lika med minst det fulla värdet av certifikaten kommer att hållas på ett tilldelat konto i emittentens namn.
Det betyder att det går att handla andelar i denna ETC genom de flesta svenska banker och Internetmäklare, till exempel DEGIRO, Nordnet, Aktieinvest och Avanza.
J.P. Morgan är glada att kunna tillkännage noteringen av det senaste tillskottet till deras sortiment av aktiva ränte-ETFer – JPM Global Government Bond Active UCITSETF (JGOV). Byggande på momentumet från lanseringen av sju aktiva ränte-ETF:er under de senaste 12 månaderna, kommer denna nya ETF att lägga till globala statsobligationer till J.P. Morgans omfattande utbud av aktiva ränte-fonder.
Denna lansering kompletterar JPM EUR Government Bond Active UCITS ETF (JEUG), som lanserades för fem månader sedan. JPM Global Government Bond Active ETF kommer att fungera som den globala versionen av denna ETF, vilket ger investerare tillgång till den globala statsobligationsmarknaden och utnyttjar J.P. Morgans omfattande erfarenhet av att förvalta statsobligationsportföljer.
Delfondens mål är att uppnå en långsiktig avkastning som överstiger jämförelseindexet genom att aktivt investera huvudsakligen i en portfölj av globala statliga och statligt relaterade skuldebrev.
Riskprofil
Värdet på din investering kan både minska och öka, och du kan få tillbaka mindre än du ursprungligen investerade.
Statliga skuldebrev, inklusive de som emitteras av lokala myndigheter och myndigheter, är föremål för marknadsrisk, ränterisk och kreditrisk. Regeringar kan fallera över sina statsskulder och innehavare av statsskulder (inklusive delfonden) kan ombedas att delta i omläggningen av sådana skulder och att bevilja ytterligare lån till statliga enheter. Det finns inget konkursförfarande genom vilket statsskulder som en regering har fallerat över kan drivas in helt eller delvis. Globala ekonomier är starkt beroende av varandra och konsekvenserna av en suverän stats fallissemang kan vara allvarliga och långtgående och kan leda till betydande förluster för delfonden.
Värdet på skuldebrev kan förändras avsevärt beroende på ekonomiska förhållanden och ränteförhållanden samt emittentens kreditvärdighet. Emittenter av skuldebrev kan misslyckas med att uppfylla betalningsförpliktelser eller så kan kreditbetyget för skuldebrev sänkas. Dessa risker är vanligtvis förhöjda för skuldebrev under investment grade, vilka också kan vara föremål för högre volatilitet och lägre likviditet än skuldebrev med investment grade. Kreditvärdigheten för skuldebrev utan kreditbetyg mäts inte med hänvisning till ett oberoende kreditvärderingsinstitut.
Tillväxtmarknader kan vara föremål för ökad politisk, regulatorisk och ekonomisk instabilitet, mindre utvecklade förvarings- och avvecklingsmetoder, dålig transparens och större finansiella risker. Tillväxtmarknader och skuldebrev under investment grade kan också vara föremål för högre volatilitet och lägre likviditet än skuldebrev utan investment grade respektive skuldebrev med investment grade.
Investeringar i onshore-skuldebrev som emitteras inom Kina via Bond Connect är föremål för regeländringar och operativa begränsningar, vilket kan leda till ökad motpartsrisk. Marknadsvolatilitet och potentiell brist på likviditet på grund av låga handelsvolymer kan få obligationspriserna att fluktuera avsevärt.
Hållbarhetsrisk kan väsentligt negativt påverka en emittents finansiella ställning eller rörelseresultat och därmed värdet av den investeringen. Dessutom kan det öka delfondens volatilitet och/eller förstärka befintliga risker för delfonden.
Delfonden strävar efter att ge en avkastning över jämförelseindexet; delfonden kan dock underprestera jämförelseindexet.
Mer information om risker finns i avsnittet ”Riskinformation” i prospektet.
Det betyder att det går att handla andelar i denna ETF genom de flesta svenska banker och Internetmäklare, till exempel Nordnet, SAVR, DEGIRO och Avanza.