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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AXA IM ShortDuration Income UCITSETF är en aktivt förvaltad ränte-ETF. Den investerar i kortfristiga obligationer utfärdade av regeringar, företag eller offentliga institutioner runt om i världen. Dessa obligationer har en hög kreditvärdighet (Investment Grade). ETFen kan handlas i euro eller amerikanska dollar.
Produktutbudet inom Deutsche Börses ETF- och ETP-segment omfattar för närvarande totalt 2 484 ETFer, 202 ETCer och 261 ETNer. Med detta urval och en genomsnittlig månatlig handelsvolym på cirka 25 miljarder euro är Xetra den ledande handelsplatsen för ETFer och ETPer i Europa.
HANetf Lloyd Growth Equity UCITSETF Accumulating (GEP ETF) med ISIN IE00068IJAK0, strävar efter att spåra Solactive Lloyd Growth Equity-index. Solactive Lloyd Growth Equity-index spårar aktier över hela världen med kvalitet och tillväxtegenskaper.
Den börshandlade fondens TER (total cost ratio) uppgår till 0,85 % p.a. HANetf Lloyd Growth Equity UCITSETF Accumulating är den enda ETF som följer Solactive Lloyd Growth Equity-index. ETFen replikerar det underliggande indexets prestanda genom fullständig replikering (köper alla indexbeståndsdelar). Utdelningarna i ETFen ackumuleras och återinvesteras.
HANetf Lloyd Growth Equity UCITSETF Accumulating har tillgångar på 114 miljoner GBP under förvaltning. Denna ETF lanserades den 16 maj 2024 och har sin hemvist i Irland.
Growth Equity ETF Mål
Lloyd Growth Equity UCITSETF (GEP) syftar till att ge investerare exponering mot företag som är av enastående kvalitet och överlägsen tillväxtprofil.
Företag måste ha en lång historia av god ekonomisk utveckling och en stark balansräkning. De måste upprätthålla en hög rörelsemarginal, konsekvent uppvisa positiva rörelseresultat, generera stort fritt kassaflöde och visa robust avkastning på investerat kapital. Företagens kvalitet, hållbarheten i deras intjäningskraft och deras utvecklingspotential bedöms också genom analysen av fyra kritiska faktorer som Lloyd Capital definierar som de fyra ”M”:en – Moat, Management, Market och Macro.
Growth Equity ETFföljer Solactive Lloyd Growth Equity Index CNTR (SGEPNTRC), som riktar sig till företag med starka finansiella fundament och överlägsen tillväxt.
HANetf och REX-Shares lanserar REX Tech Innovation Premium Income UCITSETF och REX Tech Innovation Income & GrowthUCITSETF, som båda följer Solactive US FANG Innovation Index.
Solactive är glada att kunna tillkännage samarbetet med HANetf och REX-Shares kring lanseringen av U.S. Big Tech Premium Income ETF och U.S. Big Tech Income & GrowthETF, som båda följer Solactive US FANG Innovation Index. Produkterna syftar till att ge investerare tillgång till en dynamisk portfölj av de mest innovativa och inflytelserika amerikanska teknikdrivna företagen.
I över ett decennium har teknikjättar dominerat de amerikanska kapitalmarknaderna. Solactive US FANG Innovation Index fångar resultatet av 20 framstående, teknikfokuserade företag och kombinerar skalan och motståndskraften hos etablerade teknikjättar med styrkan och relevansen hos andra ledande innovatörer, vilket skapar en diversifierad korg som exemplifierar amerikanskt tekniskt ledarskap. Tillsammans formar dessa företag några av dagens mest transformerande områden, inklusive artificiell intelligens, molntjänster, digital underhållning, avancerade halvledare samt elektrisk och autonom mobilitet.
Solactive US FANG Innovation Index inkluderar ikoniska namn som Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, Netflix och Tesla, tillsammans med ett urval av de näst största och mest likvida och effektfulla teknikföretagen på marknaden. Denna struktur syftar till att säkerställa att investerare får exponering mot en dynamisk portfölj i framkant av den digitala ekonomin.
REX Tech Innovation Premium Income UCITSETFoch REX Tech Innovation Income & GrowthUCITSETF noterades den 2 juli på Londonbörsen under tickersymbolen ”FEPI” och ”FEGI”.
Timo Pfeiffer, Chief Markets Officer på Solactive, kommenterade: ”Vårt uppdrag är att göra det möjligt för våra kunder att snabbt och effektivt förverkliga sina indexbaserade produktidéer. REX Tech Innovation Premium Income UCITSETF och REX Tech Innovation Income & GrowthUCITSETF är kraftfulla exempel på hur vår flexibla infrastruktur och innovativa tänkesätt hjälper till att omsätta produktidéer till investeringsbara verkligheter. Vi är stolta över att stödja REX Shares och HANetf med denna lansering.”
”Vi är glada över att samarbeta med HANetf och Solactive för att lansera REX första börsnoterade ETF i Europa och utöka vår globala närvaro”, säger Kevin Gopaul, investeringschef på REX. ”Optionsbaserade inkomststrategier har varit ett av de snabbast växande segmenten i USA, och våra ETFer med täckta köpoptioner har varit starkt tilltalande bland investerare som söker avkastning utan att offra aktieexponering.
Med lanseringen av REX Tech Innovation Premium Income ETF är vi stolta över att erbjuda europeiska investerare en differentierad inkomstlösning byggd på en portfölj av ledande amerikanska teknikföretag.”
Hector McNeil, medgrundare och VD för HANetf, kommenterade: ”Vi är glada över att samarbeta med REX Shares för att lansera tre nya covered call-ETF:er i Europa. Tillgångsklassen har tagit fart i Europa nyligen, men vi tror att den bara har börjat. REX Shares tillvägagångssätt är beprövat i USA, och nu har europeiska investerare en chans att delta.
Vi har nu 5 covered call-ETFer på HANetf-plattformen och 13 aktiva ETFer. Vi tror att båda dessa områden är redo för betydande tillväxt i Europa, och detta återspeglas i ökningen av förfrågningar vi har fått om att lansera aktiva och optionsbaserade ETFer. Vårt mål är alltid att bryta ner inträdesbarriärerna på den europeiska ETF-marknaden och låta kapitalförvaltare från hela världen lansera sina börshandlade strategier på ett snabbt och kostnadseffektivt sätt. Vårt produktutbud blir alltmer mångsidigt i takt med att vi välkomnar fler partners till plattformen, vilket säkerställer att vi alltid är innovativa och erbjuder relevanta strategier till europeiska investerare.”