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Investors rotate into gold out of silver

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ETF Securities Weekly Flows Analysis - Investors rotate into gold out of silver Emerging market bond ETPs see highest inflows since January.

ETF Securities Weekly Flows Analysis – Investors rotate into gold out of silver

  • Investors rotate back to gold, away from silver.
  • Emerging market bond ETPs see highest inflows since January.
  • Investors sell oil ETPs as price nears the top of trading range.

Gold ETPs receive largest inflows since May 2017, while silver ETPs see largest outflows since July 2016. With gold holding its gains last week, investors increased their holding of the metal by US$64.7mn. A small miss in US ISM manufacturing figures and continued political volatility in the Trump Administration following the sacking of its Communications Director lent weakness to the US Dollar and support to gold. We believe that in the absence of shocks, gold will trade around current levels until the end of the year. However, should we get any shock events, gold could rise higher. Investors acknowledging this “hedge” trait of gold are buying into the metal as a source of portfolio insurance. Meanwhile long silver ETPs saw outflows of US$58.3mn, as its price failed to hold onto gains from the previous week. As economic growth continues, we expect that silver will outperform gold by the end of the year, which could see inflows into silver resume.

Inflows into Emerging Market government bond ETPs the highest since January 2017. Marking the third consecutive week of inflows into Emerging Market government bonds, inflows of US$18.6mn indicate that investor sentiment around emerging markets is continuing to grow. Gains in local government bonds of around 11% this year, underpin the recent increase in sentiment.

Third consecutive week of outflows from crude oil ETPs. Outflows of long US$75mn were the highest since May 2017. After the prior week’s gains in oil prices, investors continued to take-profit. By the end of the week, WTI oil had lost all its gains from the previous week. Investors continue to play a price range of US$40-55/bbl. When oil trades closer to the lower part of the range, we expect to see inflows resume. Recent price weakness comes as OPEC members are poorly conforming with their production limits. Kuwait and Russia are chairing a meeting today and tomorrow in Abu Dhabi with several OPEC and non-OPEC members participant in the deal to limit production. The spotlight will be shone on countries like Iraq, Gabon, Ecuador and UAE who are the cartel’s worst offenders.

Investors polarised on USD/EUR. Last week inflows into short USD-long EUR ETPs rose to US$6.2mn, breaking a five weeks of outflows. Meanwhile inflows into short EUR-long USD rose to US$6.3mn, marking seventh consecutive week of inflows. In aggregate there were US$14.6mn of inflows into USD ETPs. Despite recent weakness in the US Dollar and strength in the Euro, we think the broader currency market has misjudged the reticence of the ECB and that confidence in aggressive tapering in coming months misguided. We feel the recent Euro strength will fade, while tightening policy in the US will drive the US Dollar higher. Friday’s payroll report, which was considerably stronger than expected, should provide support to Dollar over the coming week, and reverse the weakness seen earlier 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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Börshandlade fonder för den som vill investera i skogen

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Timmer och skogar är garanter för att mildra klimatförändringarna och en naturlig träkälla. Skogarna täcker stora landområden, utgör en oumbärlig åtgärd för att minska koldioxidutsläppen och är de främsta producenterna av syre. Det finns även börshandlade fonder för den som vill investera i skogen.

Timmer och skogar är garanter för att mildra klimatförändringarna och en naturlig träkälla. Skogarna täcker stora landområden, utgör en oumbärlig åtgärd för att minska koldioxidutsläppen och är de främsta producenterna av syre. Det finns även börshandlade fonder för den som vill investera i skogen.

Detta ger möjligheter för företag som äger skog eller är inblandade i skogsskötseln. Träförädlingsindustrin är också en del av denna trend, liksom börsnoterade skogsfonder i form av REITs (Real Estate Investment Trusts). Dessa företag kan användas för att skapa ett index.

I den här investeringsguiden hittar du alla ETFer som gör att du kan investera i skogen. För närvarande finns det ett index tillgängligt spårat av två olika ETFer som båda har en årlig förvaltningskostnad på 0,65 procent.

Skogs-ETFer i jämförelse

När man väljer en ETF för skogsbruk bör man överväga flera andra faktorer utöver metodiken för det underliggande indexet och prestanda för en ETF. För bättre jämförelse hittar du en lista över alla skogs-ETFer med detaljer om namn, kortnamn, kostnad, utdelningspolicy, hemvist och replikeringsmetod. För ytterligare information om respektive börshandlad fond klicka på kortnamnet för att ta del av allt vi skrivit om dessa.

Namn
ISIN
KortnamnAvgift %UtdelningspolicyHemvistReplikeringsmnetod
iShares Global Timber & Forestry UCITS ETF
IE00B27YCF74
IUSB0.65%UtdelandeIrlandFysisk replikering
iShares Global Timber & Forestry UCITS ETF USD (Acc)
IE0003ZXNJY5
WOOE0.65%AckumulerandeIrlandFysisk replikering

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EDOG ETF med fokus på telemedicin och digital hälsa

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Global X Telemedicine & Digital Health UCITS ETF Dist GBP (EDOG ETF) med ISIN IE00BLR6QC17, försöker följa indexet Solactive Telemedicine & Digital Health. Solactive Telemedicine & Digital Health-index spårar företag över hela världen som är verksamma inom området telemedicin och digital hälsa.

Global X Telemedicine & Digital Health UCITS ETF Dist GBP (EDOG ETF) med ISIN IE00BLR6QC17, försöker följa indexet Solactive Telemedicine & Digital Health. Solactive Telemedicine & Digital Health-index spårar företag över hela världen som är verksamma inom området telemedicin och digital hälsa.

Den börshandlade fondens TER (total cost ratio) uppgår till 0,68 % p.a. Global X Telemedicine & Digital Health UCITS ETF Dist GBP är den billigaste ETF som följer Solactive Telemedicine & Digital Health-index. ETFen replikerar det underliggande indexets prestanda genom fullständig replikering (köper alla indexbeståndsdelar). Utdelningarna i ETFen delas ut till investerarna (halvårsvis).

Global X Telemedicine & Digital Health UCITS ETF Dist GBP är en mycket liten ETF med tillgångar på 0 miljoner euro under förvaltning. Denna ETF lanserades den 17 december 2020 och har sin hemvist i Irland.

Skäl att överväga EDOG

Hög tillväxtpotential: Den globala telemedicinmarknaden ökade med 35 % från 2019 till 2020 och översteg 55 miljarder dollar. Prognoser tyder på att marknaden kan nå nästan 300 miljarder dollar år 2028 (Källa: ”Telemedicine Market Size, Share & Trends Analysis Report By Component” Grand View Research, februari 2021).

Strukturella medvindar: Under 2019 saknade uppskattningsvis hälften av världens befolkning nödvändig hälsovård. När mer underbetjänade marknader får tillgång till bredband erbjuder telemedicin stora möjligheter att överbrygga klyftan (Källa: World Economic Forum).

Nya konsumentinställningar: Pandemin ökade antagandet av digitala hälsotjänster, med många vänder sig till telemedicin för första gången, vilket påskyndade temats räckvidd.

Handla EDOG ETF

Global X Telemedicine & Digital Health UCITS ETF Dist GBP (EDOG ETF) är en börshandlad fond (ETF) som handlas på London Stock Exchange.

London Stock Exchange är en marknad som få svenska banker och nätmäklare erbjuder access till, men DEGIRO gör det.

Börsnoteringar

BörsValutaKortnamn
London Stock ExchangeGBPEDOG

Största innehav

Vikt (%)KortnamnNamnLandSEDOL
4.87PODD USINSULET CORPUnited StatesB1XGNW4
4.57DOCS USDOXIMITY INC-CLASS AUnited StatesBMD22Y4
4.55HIMS USHIMS & HERS HEALTH INCUnited StatesBN46048
4.28RMD USRESMED INCUnited States2732903
4.23DGX USQUEST DIAGNOSTICS INCUnited States2702791
4.22TWST USTWIST BIOSCIENCE CORPUnited StatesBGKG6G7
4.06TNDM USTANDEM DIABETES CARE INCUnited StatesBF3W461
4.05QGEN USQIAGEN N.V.United StatesBMGBZP0
4.05LH USLABCORP HOLDINGS INCUnited StatesBSBK800
4.02OSCR USOSCAR HEALTH -AUnited StatesBKY83Q6

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The Dogecoin story: The emerging “intrinsic value”

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Like Bitcoin, Dogecoin uses a proof-of-work (PoW) consensus mechanism but runs on its own blockchain, originally forked from Litecoin. It uses the Scrypt hashing algorithm, which is less resource-intensive than Bitcoin’s SHA-256, making mining more accessible to everyday users with consumer-grade hardware. Due to merged mining with Litecoin, Dogecoin benefits from shared infrastructure, with hashpower recently reaching all-time highs of 2.7 petahashes (quadrillion hashes) per second, making the network increasingly difficult to attack.

Like Bitcoin, Dogecoin uses a proof-of-work (PoW) consensus mechanism but runs on its own blockchain, originally forked from Litecoin. It uses the Scrypt hashing algorithm, which is less resource-intensive than Bitcoin’s SHA-256, making mining more accessible to everyday users with consumer-grade hardware. Due to merged mining with Litecoin, Dogecoin benefits from shared infrastructure, with hashpower recently reaching all-time highs of 2.7 petahashes (quadrillion hashes) per second, making the network increasingly difficult to attack.

Dogecoin’s design is built for speed and utility, has no maximum supply, and confirms blocks every minute (10x faster than Bitcoin). Moreover, it maintains ultra-low transaction fees, which is ideal for tipping, microtransactions, and everyday use.

More than a meme

Although its supply is technically unlimited, Dogecoin’s issuance model is clear and predictable. Approximately 10,000 DOGE are mined every minute, adding up to around 5.25 billion new tokens each year. As the supply base expands, this fixed issuance creates a natural disinflationary trend that has cut nearly in half over the past decade while ensuring network security through consistent miner rewards.

Dogecoin’s technology fosters an aligned ecosystem between users and miners. With sustainable economic incentives, it acts as a kind of “retail Bitcoin”, built not just for hoarding but for real-world use, too.

While Dogecoin began as a lighthearted experiment, its evolution has proven it to be far more than a meme. Thanks to its speed, low fees, and strong community backing, Dogecoin has grown into a functional digital currency with a range of real-world use cases. From payments and merchant adoption to infrastructure development and charitable giving, Dogecoin continues to demonstrate its staying power as a practical and accessible tool in the broader crypto ecosystem.

Dogecoin as a payment tool

Dogecoin has transformed into a widely accepted digital currency, embraced by major brands like Tesla, AMC, Newegg, and the Dallas Mavericks. With fast transaction speeds and low fees, even amid surging transaction volumes, it has become a practical option for everyday payments. Crypto payment processors like BitPay have further expanded its reach, enabling thousands of merchants worldwide to accept DOGE. Most recently, The Open House Group, a prominent Tokyo Stock Exchange-listed real estate firm, added Dogecoin to its supported list, making it one of the few digital assets accepted for property transactions.

Enhancing Dogecoin’s payment infrastructure

Initiatives like Dogebox and GigaWallet are simplifying DOGE integration for businesses, while its scaling solution, Laika, is making meaningful progress in improving transaction speed and reducing costs.

Meanwhile, RadioDoge is working to expand access by enabling offline transactions in remote regions through low-cost radio and Starlink technology, advancing global crypto inclusion. A rumored integration with Elon Musk’s X platform could extend Dogecoin’s utility across digital tipping and commerce. These efforts collectively reinforce Dogecoin’s growing relevance in real-world payments and its potential as a frictionless, decentralized transaction layer.

Do Only Good Every Day

As we’ve seen, community drives memecoins, and Dogecoin’s community shines the brightest. This global network not only thrives on memes but also channels that energy into social good. From funding clean water in Kenya to sending Jamaica’s Bobsled Team to the Olympics and raising over $1 million for Ukraine relief, DOGE’s community transforms internet culture into real-world impact. Low fees and fast transactions make it a favorite for grassroots giving, showing a coin born as a joke can leave a lasting legacy. Dogecoin is more than a digital asset—it’s a movement powered by a community that believes in doing good every day.

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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