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Crude investors cut positions again, waiting for OPEC meeting

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7 år sedan

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Crude oil ETPs have seen 11 consecutive weeks of outflows as investors continue to take profit Crude investors cut positions again, waiting for OPEC meeting

ETF Securities Weekly Flows Analysis – Crude investors cut positions again, waiting for OPEC meeting

  • HighlightsCrude oil ETPs have seen 11 consecutive weeks of outflows as investors continue to take profit.
  • Short US Dollar ETPs have received the largest inflows in ten weeks, totalling US$11.3mn.
  • Stretched equity valuations prompt the fourth consecutive week of inflows into gold ETPs.
  • Agricultural ETPs saw largest inflows in nine weeks, breaking a month long run of outflows.

Crude oil ETPs have experienced 11 consecutive weeks of outflows as investors continue to take profit. Over the past 11 weeks, investors have withdrawn US$434mn from long oil ETPs. Last week, crude oil prices lost around a third of the gains of the past month, suggesting that geopolitical risk premium is beginning to dissipate. Downward price pressure is also still being exerted by rising supply, particularly in the US. Crude production spiked to a second consecutive weekly record level (the highest since the Energy Information Agency’s data began in 1983) last week, highlighting the profitability of production at current price levels. Investors will be closely monitoring OPEC comments leading up to its end-November meeting, if the cartel does not follow through with an extension of production cuts, further downside in crude prices is likely.

Stretched equity valuations prompt the fourth consecutive week of inflows into gold ETPs. Inflows into long gold ETPs totalled US$24.1mn last week, over the past 10 weeks, there have only been two weeks of outflows and US$508mn of inflows have been recorded over that period. Uncertainty over the ability for equity markets to continue their stellar rally has led investors to look for ways to hedge a potential correction. Although we expect the Fed to continue to tighten policy, we think the downside risks to gold prices are fairly limited as real interest rates will remain depressed as inflation gains pace in the US. However, a shock event could force gold prices higher, making it an attractive defensive asset to add to a diversified portfolio.

Short US Dollar ETPs have received the largest inflows in ten weeks, totalling US$11.3mn. The vast majority of the short US Dollar ETP fund inflows were against the Euro. The market appears to be discounting the ability of the Fed to hike rates in an appropriate timeframe to counter rising inflationary pressures and engineer a steepening of the US yield curve. With 2018 being a year of change at the Fed, and the top three central bankers relinquishing their positions, there is an increased risk of a policy error. Positioning in the futures market is also stark: with the exception of the JPY, the USD remains the least favoured major currency compared to the longer-term average, with net investor positioning hovering just shy of record low levels.

Diversified agricultural ETPs received largest inflows in nine weeks, breaking a month long run of outflows. A total of US$14.9mn was deposited into long agricultural ETPs, with the lions share flowing into diversified basket agricultural products. It appears that price weakness across the complex is enticing investors to build positions. Sugar is the standout, with the largest inflows in seven weeks, as prices bucked the sector trend, gaining 2.7% last week.

For more information contact

ETF Securities Research team
ETF Securities (UK) Limited
T +44 (0) 207 448 4336
E info@etfsecurities.com

Important Information

General

This communication has been provided by ETF Securities (UK) Limited (”ETFS UK”) which is authorised and regulated by the United Kingdom Financial Conduct Authority (the ”FCA”).

This communication is only targeted at qualified or professional investors.

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Trump’s Liberation Day: The impact of tariffs on the crypto market

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7 timmar sedan

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10 april, 2025

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Crypto trades around the clock and often responds quickly to market uncertainty. Bitcoin usually drops first during the market turbulence because it's risky and easy to trade, just like tech stocks. Here's how Trump’s tariffs are playing into that.

Crypto trades around the clock and often responds quickly to market uncertainty. Bitcoin usually drops first during the market turbulence because it’s risky and easy to trade, just like tech stocks. Here’s how Trump’s tariffs are playing into that.

Stablecoins: The real powerhouse of crypto

Stablecoins are digital currencies tied to assets like the U.S. dollar, making them stable in price and easy to send worldwide instantly. They drive the crypto economy, moving billions, powering financial applications, and reshaping payments. From remittances to billion-dollar treasuries, explore how leading stablecoins like USDT and USDC are making it happen.

Why the memecoin mania isn’t a joke

A memecoin is a cryptocurrency inspired by internet memes or viral trends. Unlike traditional cryptocurrencies focused on utility (like Bitcoin or Ethereum), memecoins thrive on community engagement, humor, and speculative momentum. With low barriers to entry, they’re easy to create and trade, making them a go-to starting point for crypto newcomers.

Research Newsletter

Each week the 21Shares Research team will publish our data-driven insights into the crypto asset world through this newsletter. Please direct any comments, questions, and words of feedback to research@21shares.com

Disclaimer

The information provided does not constitute a prospectus or other offering material and does not contain or constitute an offer to sell or a solicitation of any offer to buy securities in any jurisdiction. Some of the information published herein may contain forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those in the forward-looking statements as a result of various factors. The information contained herein may not be considered as economic, legal, tax or other advice and users are cautioned to base investment decisions or other decisions solely on the content hereof.

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WEBN ETF en billig globalfond från Amundi

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8 timmar sedan

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10 april, 2025

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Amundi Prime All Country World UCITS ETF Acc (WEBN ETF) med ISIN IE0003XJA0J9, strävar efter att spåra Solactive GBS Global Markets Large & Mid Cap-index. Solactive GBS Global Markets Large & Mid Cap-index spårar stora och medelstora aktier från utvecklade och tillväxtmarknader över hela världen.

Amundi Prime All Country World UCITS ETF Acc (WEBN ETF) med ISIN IE0003XJA0J9, strävar efter att spåra Solactive GBS Global Markets Large & Mid Cap-index. Solactive GBS Global Markets Large & Mid Cap-index spårar stora och medelstora aktier från utvecklade och tillväxtmarknader över hela världen.

Den börshandlade fondens TER (total cost ratio) uppgår till 0,07 % p.a. Amundi Prime All Country World UCITS ETF Acc är den billigaste ETF som följer Solactive GBS Global Markets Large & Mid Cap-index. ETFen replikerar det underliggande indexets prestanda genom fullständig replikering (köper alla indexbeståndsdelar). Utdelningarna ackumuleras och återinvesteras.

Denna ETF lanserades den 5 juni 2024 och har sin hemvist i Irland.

Investeringsmål

Amundi Prime All Country World UCITS ETF Acc strävar efter att så nära som möjligt replikera resultatet för Solactive GBS Global Markets Large & Mid Cap Index (””Index”) oavsett om trenden är stigande eller fallande. Delfondens mål är att uppnå en tracking error-nivå för delfonden och dess index som normalt inte överstiger 1 %.

Handla WEBN ETF

Amundi Prime All Country World UCITS ETF Acc (WEBN ETF) är en europeisk börshandlad fond. Denna fond handlas på flera olika börser, till exempel Deutsche Boerse Xetra.

Det betyder att det går att handla andelar i denna ETF genom de flesta svenska banker och Internetmäklare, till exempel DEGIRO, Nordnet, Aktieinvest och Avanza.

Börsnoteringar

BörsValutaKortnamn
XETRAEURWEBN

Största innehav

Denna fond använder fysisk replikering för att spåra indexets prestanda.

NamnValutaVikt %Sektor
MICROSOFT CORPUSD4.62 %Informationsteknologi
APPLE INCUSD4.47 %Informationsteknologi
NVIDIA CORPUSD3.99 %Informationsteknologi
AMAZON.COM INCUSD2.47 %Sällanköpsvaror
META PLATFORMS INC-CLASS AUSD1.54 %Kommunikationstjänster
ALPHABET INC CL AUSD1.51 %Kommunikationstjänster
ALPHABET INC CL CUSD1.26 %Kommunikationstjänster
ELI LILLY & COUSD1.05 %Health Care
BROADCOM INCUSD1.04 %Informationsteknologi
TAIWAN SEMICONDUCTOR MANUFACTWD0.97 %Informationsteknologi

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Mar.25 crypto update, Research commentary on market turmoil, CIO Notes and ETP performance attribution

Publicerad

9 timmar sedan

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10 april, 2025

Av

Mar.25 crypto update, Research commentary on market turmoil, CIO Notes and ETP performance attribution

A – Research commentaries from last week developments

  1. Markets reacted to Trump tariffs – Bitcoin stands

Global markets fell sharply after President Trump’s new 25% tariffs on Chinese imports. Stocks led the decline – the Nasdaq 100 is now down -14% since the election, and the S&P 500 -12.3%. Crypto reacted too, but not uniformly:

• Altcoins such as SOL and ETH were hit hardest (down over 30% since November)

• Bitcoin and the Nasdaq Crypto Index (NCI) showed resilience, gaining +14.3% and +9.3%, respectively since Election

This kind of selloff tends to erase diversification — everything moves together. But it’s essential to take a longer view:

• Since Trump’s election, only three assets have consistently outperformed: Bitcoin, NCI, and gold.

• Last week, only gold outpaced BTC, confirming the role of digital assets as a strategic long-term allocation — even in volatile regimes.

  1. Regulatory tailwinds are building

The next phase of crypto decoupling could come from policy. In the US, the signals are turning positive:

• The STABLE Act advanced in Congress, with Trump urging swift approval

• A tokenized fund paid $4.17M in dividends last month, proving blockchain’s real-world income potential

• The SEC has launched a review of past crypto guidance — a move toward clearer rules and broader institutional comfort

Bottom line: In a week where most assets fell, crypto stood out. That’s not a coincidence — it’s a signal.

B – CIO Monthly Notes – Crypto’s Political Tailwinds Are Blowing Hard

• Following a week in Washington, our CIO outlines how crypto is gaining bipartisan traction in DC.

• Key takeaway: regulatory clarity is coming faster than expected, and institutions are taking note.

C – March 2025 ETP performance overview

As of 31/03/25 – Source: Hashdex and Bloomberg. Performances in USD.

Hashdex Nasdaq Crypto Index ETP (HASH / HDX1) : March: -4.5% | YTD: -19%

Key drivers in March: Bitcoin and Ethereum

March Performance Attribution:

Hashdex Crypto Momentum Factor ETP (HAMO / HDXM): March: -8.5% | YTD: -22%

Key drivers in March: Litecoin, Ethereum and Solana

March Performance Attribution:

Hashdex Multi-Crypto Index ETPs

Hashdex Nasdaq Crypto Index ETP (HASH)

• Broad exposure to BTC, ETH, and major altcoins (SOL, XRP, ADA, etc)

• Quarterly rebalancing – evolutive, market cap-based allocation with no caps (weights and number of constituents)

• Largest crypto index ETP in Europe (+$300m AUM)

• ISIN: CH1184151731 | Tickers: HASH (SIX, Euronext) / HDX1 (Xetra)

• Tradable in USD, EUR, CHF, GBP
• Factsheet / Product page / Index Methodology

Hashdex Crypto Momentum Factor ETP (HAMO/HDXM )

• Momentum-based strategy with monthly rebalancing

• Designed to capture trends across large-cap crypto assets

• ISIN: CH1218734544 | Tickers: HAMO (SIX, Euronext) / HDXM (Xetra)

• Tradable in USD, EUR, CHF, GBP

• Factsheet / Product page / Index Methodology

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