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Cryptoassets of the Month: March 2023

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Every month, 21Shares research team will present the cryptoassets of the month that increased or dropped in value by more than 15%. With a data-driven approach, we highlight the most important developments and events causing price movements.

Every month, 21Shares research team will present the cryptoassets of the month that increased or dropped in value by more than 15%. With a data-driven approach, we highlight the most important developments and events causing price movements.

Figure 1 – 30-Day Performance: Cryptoassets of the Month vs. Traditional Asset Classes

Data Source: 21Shares, CoinMarketCap, and Yahoo Finance, from 28-Feb-2023 to 31-Mar-2023 (Close Price)

XRP Ledger (XRP)

XRP traded up 42.80% in the past month as traders speculate that its legal battle against the SEC seems to be nearing its end. In December 2020, the SEC filed a lawsuit against Ripple, arguing that XRP satisfies the Howey test’s requirements and is thus a security under US laws. On September 17, 2022, both parties agreed to forgo a trial, opting for a summary judgment. A Bloomberg senior litigation analyst, Elliot Stein, estimates that a ruling will happen within the next three months. Furthermore, exchange data from CoinGecko revealed that the XRP surge was primarily driven by South Korean traders. On March 29, XRP trading made up 37% of all volume on Bithumb and 18% on UpBit, the two largest South Korean exchanges by trading volume.

Stellar (XLM)

Stellar’s native token XLM rose 28.81% over the past month. On March 13, it was announced that Stellar would be connected to Polkadot and its ”canary network” Kusama via the newly built Spacewalk bridge. On March 28, Coinme’s wallet integrated USDC on the Stellar network. The move aims to target the cash remittance market, as Coinme is the most extensive crypto-cash network in the US, with over 40,000 locations nationwide. Regarding Stellar Aid Assist, the aid disbursement system leveraging the Stellar blockchain in collaboration with Circle and MoneyGram is being used in pilot programs by the United Nations High Commissioner for Refugees (UNHCR) to deliver cash assistance to internally displaced persons in Ukraine. The program aims to reach 5,000 persons by April.

Bitcoin (BTC)

Bitcoin rallied 23.03% in the past month on the back of a looming banking crisis. On March 13, the Federal Reserve had to step in to protect all depositors of Silicon Valley Bank, which experienced a bank run two days before, and of crypto-friendly Signature Bank, controversially shut down by its state chartering authority. Then, on March 19, UBS agreed to buy Credit Suisse in an emergency rescue deal brokered by Swiss authorities. Meanwhile, Bitcoin decoupled from risk assets like stocks and showed an increased correlation to Gold as investors turned to it as a hedge against bank risk. At its core, Bitcoin is a non-sovereign form of money that exhibits unique characteristics (trustless, permissionless, and censorship-resistant, among others). Indeed, one of Satoshi Nakamoto’s primary motivations for creating Bitcoin was to have an alternative form of money outside central banks’ control.

Strategies of the Month: March 2023

Every month, our research team will also present the best-performing strategies of the month in our product suite. With a data-driven approach, we highlight the most important developments and events causing price movements.

Figure 2: 30-Day Performance: Strategies of the Month vs. Traditional Asset Classes

Data Source: 21Shares Index Management Console and Yahoo Finance, from 28-Feb-2023 to 31-Mar-2023 (Close Price)

HODLV

The 21Shares Crypto Basket Equal Weight ETP (HODLV) appreciated 17.45% over the past month. HODLV tracks the investment results of an equally-weighted index composed of the top 5 largest cryptoassets based on market capitalization. The index’s best-performing asset was XRP, which appreciated 42.80% over the past month, followed by Bitcoin.

HODLX

The 21Shares Crypto Basket 10 ETP (HODLX) traded up 16.49% over the past month. HODLX seeks to track the investment results of an index composed of the top 10 largest cryptoassets based on market capitalization. Bitcoin and Ethereum currently represent ~86% of the index, which explains why the index’s performance was correlated with both assets over this period. Regarding Ethereum, the long-awaited Shanghai upgrade will launch on April 12, closing the loop on staking liquidity by allowing investors to withdraw their staked ETH.

KEYS

The 21Shares Bitwise Select 10 Large Cap Crypto ETP (KEYS) rose 16.48% over the past month. KEYS seeks to track the investment results of an index composed of the top 10 cryptoassets ranked by inflation-adjusted market capitalization. Because Bitcoin and Ethereum’s weights in the index represent about 93%, the index’s performance tends to be highly-correlated with both assets, as was the case over this period.

ABBA

The 21Shares Bitcoin Suisse Index ETP (ABBA) rose 15.08% over the past month. ABBA seeks to track the investment results of an index composed of Bitcoin and Ethereum based on market capitalizations. Investors should understand that Bitcoin and Ethereum serve different use cases and can complement each other in a portfolio. The former is positioned as a non-sovereign form of money, while the latter promises to be the foundational infrastructure for the new iteration of internet services.

HODL

The 21Shares Crypto Basket Index ETP (HODL) traded up 13.49% over the past month. HODL seeks to track the investment results of an index of the top 5 cryptoassets ranked by the 2050 market capitalization. The 2050 market capitalization is calculated using a projected 2050 supply number and current prices. Bitcoin and Ethereum’s weights are currently around 50% and 30%, while Polkadot is the third-largest constituent with a weight of ~13%. Smart contract platforms, like Ethereum and Solana, operate in isolation. In contrast, Polkadot works at a level below (interoperability), supporting a growing ecosystem of specialized blockchains called parachains.

BOLD

The 21Shares Bytetree BOLD ETP (BOLD) traded up 11.21% over the past month. BOLD offers volatility-managed exposure to Bitcoin and gold. Bitcoin’s 30-day rolling correlation to gold reached 0.5, surpassing its correlation to the S&P 500 for the first time since December 2020. Gold is the seminal store-of-value asset, used as money since the early days of civilization. Investors tend to buy gold during adverse macroeconomic conditions and inflationary environments. Due to the banking incidents observed in March, investors have now turned to Bitcoin as an alternative to the traditional financial system. The strategy adjusts weightings monthly according to historical volatility, allocating a higher weight to the less volatile asset. BTC’s allocation in the past month hovered around 20%.

MOON

The Sygnum Platform Winners Index ETP (MOON) rose 9.89% over the past month. MOON seeks to track the investment results of an index composed of the native tokens of the most prominent blockchain protocols, including only the largest network in a family of forks. MOON’s weighting methodology goes beyond backward-looking metrics like market cap and liquidity. It also includes early and leading indicators of value creation in the underlying ecosystems, such as developer engagement and public interest via social media.

ALTS

The 21Shares Crypto Mid-Market Index ETP (ALTS) appreciated 7.55% over the past month. ALTS seeks to track the investment results of an index capturing the mid-cap portion of the cryptoasset market. BNB and XRP are the largest constituents of the index with weights of ~39% and ~22%, respectively. BNB underperformed the broader crypto market as the Commodity Futures Trading Commission (CFTC) charged Binance and its founder, Changpeng Zhao, with “willful evasion of federal law and operating an illegal digital asset derivatives exchange” on March 27.

STAKE

The 21Shares Staking Basket Index ETP (STAKE) traded up 6.49% over the past month. STAKE seeks to track an index comprising the largest cryptoassets with institutional-grade support for staking. Staking is a process whereby investors, commonly referred to as validators, commit a portion of their cryptoassets (the “stake”) to secure a blockchain by confirming transactions – and gain access to a recurring value stream of native tokens to compensate them for their work. Staking is a core energy-friendly feature of Proof-of-Stake (PoS) blockchains, and each blockchain network has its own set of staking requirements. BNB and ADA are the largest constituents of the index with weights of ~30% and ~20%, respectively.

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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WSLV ETC spårar priset på fysiskt silver

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WisdomTree Core Physical Silver (WSLV ETC) med ISIN JE00BQRFDY49, spårar spotpriset på ädelmetallen silver. Den börshandlade produktens TER (total cost ratio) uppgår till 0,19 % p.a. WisdomTree Core Physical Silver är den billigaste ETC som följer Silverindex. Denna ETC replikerar resultatet av det underliggande indexet med en skuldförbindelse med säkerheter som backas upp av fysiska innehav av ädelmetallen.

WisdomTree Core Physical Silver (WSLV ETC) med ISIN JE00BQRFDY49, spårar spotpriset på ädelmetallen silver. Den börshandlade produktens TER (total cost ratio) uppgår till 0,19 % p.a. WisdomTree Core Physical Silver är den billigaste ETC som följer Silverindex. Denna ETC replikerar resultatet av det underliggande indexet med en skuldförbindelse med säkerheter som backas upp av fysiska innehav av ädelmetallen.

Denna ETC lanserades den 13 augusti 2024 och har sin hemvist i Jersey.

WisdomTree Core Physical Silver är en UCITS Eligible Exchange Traded Commodity (ETC) utformad för att erbjuda värdepappersinnehavare ett enkelt, kostnadseffektivt och säkert sätt att få tillgång till Physical Silver genom att ge en avkastning som motsvarar rörelserna i det fysiska silver spotpriset minus tillämplig förvaltning avgift. WisdomTree Core Physical Silver backas upp av fysiskt, allokerat fysiskt silver som innehas av HSBC Bank plc (förvaringsinstitutet). Endast metall som överensstämmer med London Bullion Market Associations (LBMA) regler för god leverans kan accepteras av förvaringsinstitutet.

Varje fysisk tacka är segregerad, individuellt identifierad och tilldelad. Till exempel, om fysiskt silver stiger med 1 % under en dag, kommer ETC att stiga med 1 %, exklusive avgifter. Men om fysiskt silver faller med 1 % under en dag, kommer ETC att falla med 1 %, exklusive avgifter.

Varför investera?

Fysiskt uppbackad, direkt investering i fysiskt silver.

UCITS godtagbara och fullt säkrade.

Transparent prestanda och avgifter.

Transparens: Metallrättigheter publiceras dagligen.

Lätt att investera: Allt i en produkt som inte kräver att investeraren hanterar lagring, försäkring eller leverans av metallen.

Riskhantering: Du kan inte förlora mer än det investerade beloppet.

Likviditet: Handlar på börsen, med flera auktoriserade deltagare (AP) och market makers (MM).

Handla WSLV ETC

WisdomTree Core Physical Silver (WSLV ETC) är en europeisk börshandlad fond. Denna fond handlas på flera olika börser, till exempel Deutsche Boerse Xetra och London Stock Exchange.

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

Börsnoteringar

BörsValutaKortnamn
Borsa ItalianaEURWSLV
London Stock ExchangeGBXWSIL
XETRAEURWSLV
London Stock ExchangeUSDWSLV

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HDRA ETP spårar priset på kryptovalutan Hedera

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21Shares Hedera ETP (HDRA ETP) med ISIN CH1456607683 erbjuder investerare ett likvidt sätt att integrera ETPen, som spårar HBAR, i sina portföljer via sin bank eller mäklare, och utnyttja Hederas fördelar.

21Shares Hedera ETP (HDRA ETP) med ISIN CH1456607683 erbjuder investerare ett likvidt sätt att integrera ETPen, som spårar HBAR, i sina portföljer via sin bank eller mäklare, och utnyttja Hederas fördelar.

Fördelar

Stridstestad och framtidssäker säkerhet: Hederas Hashgraph-konsensusalgoritm uppnår Asynchronous Byzantine Fault Tolerance (ABFT), en av de högsta säkerhetsstandarderna i distribuerade system. Denna inbyggda motståndskraft, i kombination med en arkitektur som är mycket motståndskraftig mot kvanthot, gör Hedera till ett övertygande val för högvärdiga applikationer där förtroende, dataintegritet och långsiktig lönsamhet är av största vikt.

Backad av globala jättar: Hedera vänder på den typiska Web3-strategin och prioriterar implementering i verkligheten genom infrastruktur i företagsklass från dag ett. Dess styrning är förankrad av ett råd med upp till 39 globala organisationer, inklusive Google, IBM, LG, Dell och Deutsche Telekom, som alla verkar under transparenta, juridiskt bindande villkor. Detta gör Hedera unikt positionerat för att möta kraven från både företags- och detaljhandelsekosystem i stor skala.

Hashgraph-motorn bakom Hedera: Till skillnad från traditionella blockkedjor drivs Hedera av sin Hashgraph-arkitektur, vilket möjliggör en dataflödeshastighet på upp till 500 000 transaktioner per sekund under testförhållanden, vilket gör den till en av de snabbaste på marknaden. Dessutom är Hederas avgifter fasta i dollar, vilket erbjuder förutsägbara, ultralåga kostnader som är idealiska för storskaliga realtidsapplikationer.

Hållbarhet i stor skala: Hedera är ett mycket energieffektivt nätverk som bara förbrukar 0,000003 kWh per transaktion, vilket gör det 1 000 gånger renare än en typisk Visa-transaktion. Med sitt koldioxidnegativa fotavtryck och sin lågenergikonsensusmodell är Hedera ett idealiskt val för hållbarhetsfokuserade projekt och miljömedvetna investerare.

Produktinformation

Handla HDRA ETP

21Shares Hedera ETP (HDRA ETP) är en europeisk börshandlad fond. Denna fond handlas på flera olika börser, till exempel Deutsche Boerse Xetra och Euronext Amsterdam.

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.

Börsnoteringar

BörsValutaKortnamn
Euronext AmsterdamUSDHDRA NA
Euronext ParisEURHDRA FP

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AXA noterar aktivt förvaltad ränte-ETF på Xetra

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AXA IM Short Duration Income UCITS ETF förvaltas aktivt. Den investerar i kortfristiga obligationer utfärdade av regeringar, företag eller offentliga institutioner runt om i världen. Dessa obligationer har en hög kreditvärdighet (Investment Grade). ETF:n kan handlas i euro eller amerikanska dollar.

AXA IM Short Duration Income UCITS ETF 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.

NamnISIN
Kortnamn
AvgiftUtdelnings-
policy
AXA IM Short Duration Income UCITS ETF USD AccumulationIE000N3TZN02
ASHT (EUR)
ASHU (USD)
0,19%Ackumulerande

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.

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