• ETF Securities will be hosting a Q4 update on the 8 October to look at trends for commodities, equities and currencies
Last week commodities diverged, largely trading on their individual fundamentals. Palladium was the best performer, gaining 8% as investors fear a consumer backlash against diesel autocatalysts following the scandal at Volkswagen (which could favour palladium-heavy gasoline autocatalysts). Industrial metals were hurt again last week as the Caixin China PMI manufacturing data came out weaker than expected, although this week’s official PMI reading will offer more clarity on the strength of manufacturing demand. Late last week, the Federal Reserve Chair reiterated that a rate rise is still on the cards for 2015, which could pose a threat for commodity prices as the US dollar strengthens.
Short-lived gold rally boosted demand for gold ETPs. US$16.6mn of net inflows was invested into gold ETPs last week as gold gained 3.3%, closing at US$1,154.50/oz on Thursday. However, Federal Reserve chairman Janet Yellen cut the rallyshort when she confirmed late Thursday that interest rates could still rise by the end of the year. US dollar strengthened on this announcement and gold price pared its gains to US$1,146.20/oz. by the end of the week. The price of gold is likely to remain very volatile in the run-up to the next Fed meeting scheduled at the end of October.
Increasing interest in Energy ETPs. Energy ETPs recorded net inflows of US$7mn, mostly into ETFS Energy (AIGE) and natural gas ETPs. At this time of the year, the natural gas futures curve typically switches from backwardation into contango as the restocking season between April and October comes to a close and US demand for heating increases, supporting demand for gas ahead of the winter season. The US Energy Information Administration (EIA) forecasts natural gas price at an average of US$2.84/MMBtu for 2015. Year-to-date average price currently stands at US$2.77/MMBtu, suggesting that investors are likely to benefit from a long position into the commodity. Meanwhile, oil ETPs recorded net outflows last week, mainly from WTI ETPs, on the back of profit taking. A 17.4% rebound in WTI oil since its August low, has driven three consecutive weeks of outflows from WTI ETPs.
Inflows into short copper persist. Last week saw net inflows of US$4.5mn into ETFS Short Copper (SCOP) marking the second consecutive week of inflows into the product as ETP investors as investors have become bearish on the metal following weaker-than-expected flash manufacturing PMI data in China. Net positions into copper contracts listed on the LME and COMEX however indicate a reversal of market sentiment. China official manufacturing PMI scheduled for later this week will provide further clarification.
Platinum sell-off deepens. Platinum ETPs recoded net outflows of US$9.3mn as platinum price reached its lowest level in 6 years. Palladium ETPs saw US$1mn of inflows, following its 8.0% rally. Lower platinum prices could hurt platinum miners’ economic sustainability further. With the global average cash costs of production at US$1,209/oz. (GFMS), maintaining current levels of production is difficult and we could see the supply deficit deepen this year.
Key events to watch this week. US non-farm payrolls data will be closely scrutinized as the Fed’s next move is ever more dependent on signs of labour market strength. Official Chinese PMI’s will help confirm whether the weakness in the Caixin numbers were an aberration or a trend.
Video Presentation
Edith Southammakosane, Research Analyst at ETF Securities provides an analysis of last week’s performance, flow and trading activity in commodity exchange traded products and a look at the week ahead.
For more information contact
ETF Securities Research team ETF Securities (UK) Limited T +44 (0) 207 448 4336 E info@etfsecurities.com
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This communication has been provided by ETF Securities (UK) Limited (”ETFS UK”) which is authorised and regulated by the United Kingdom Financial Conduct Authority.
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
Kortnamn
Avgift %
Utdelningspolicy
Hemvist
Replikeringsmnetod
iShares Global Timber & Forestry UCITSETF IE00B27YCF74
Global X Telemedicine & Digital Health UCITSETFDist 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 UCITSETFDist 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 UCITSETFDist 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.
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.