Crypto Report | Jun 2024

Key Takeaways

Last month, cryptoassets outperformed traditional assets like equities and bonds as Bitcoin recovered from oversold levels and improving news flow also helped.

More specifically, ETC Group Physical Bitcoin (BTCE) returned 9.98% and ETC Group Physical Ethereum (ZETH) returned 24.95% last month.

A look at our product performances reveals that secondary altcoin ETPs such as ETC Group Physical Cardano (RDAN), or ETC Group Physical Litecoin (ELTC), generally underperformed ETC Group Physical Bitcoin (BTCE) in April as Bitcoin’s market cap dominance continued to increase – and there was no broad-based altcoin outperformance despite the fact that both the ETC Group Physical Ethereum (ZETH) and ETC Group Physical Solana (ESOL) outperformed.

From the macro side, the liquidity tide is indeed turning but markets are already painting a pretty benign growth picture. Risks are to the downside given ongoing Chinese monetary policy tightening and increasing risks of a US recession. Yield curve steepening itself would imply turnaround in monetary policy which is only likely amid a US recession itself.

Positive effects from the Halving will probably become visible from August 2024 onwards when macro factors could become less relevant for the performance of Bitcoin.

Read more in our new monthly report here.

Source of all data: ETC Group. Data as of 31.05.2024. All performance figures are showing net data. Please remember that digital assets can be highly volatile, and your capital is at risk. Past performance is not indicative of future performance. Additional sources available upon request.

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Featured Products Performance
As of 31.05.2024

1M3M6MYTD12M3YSI
ETC Group Physical Bitcoin9.98%6.75%77.32%57.91%144.41%72.73%540.37%
Bitcoin13.21%9.99%79.22%60.76%150.12%83.27%597.14%

 

1M3M6MYTD12M3YSI
ETC Group Physical Ethereum24.95%8.39%84.04%60.80%99.47%38.54%134.15%
Ether (Ethereum)27.60%12.21%84.95%63.97%102.61%43.74%145.08%

 

Please note that all performance figures are showing net data. Source: Bloomberg / HANetf. Data as of 31/05/2024

Performance before inception is based on back tested data. Back testing is the process of evaluating an investment strategy by applying it to historical data to simulate what the performance of such strategy would have been. Back tested data does not represent actual performance and should not be interpreted as an indication of actual or future performance. Past performance for the index is in USD. Past performance is not an indicator for future results and should not be the sole factor of consideration when selecting a product. Investors should read the prospectus of the Issuer (“Prospectus”) before investing and should refer to the section of the Prospectus entitled ‘Risk Factors’ for further details of risks associated with an investment in this product. When you invest in ETFs and ETCs, your capital is at risk.

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