Crypto Report | March 2024

Macro Outlook

February was an outstanding month for cryptoassets. In general, cryptoassets outperformed traditional assets such as equities by a very wide margin on account of increasing fund flows into US spot Bitcoin ETFs.

More specifically, the ETC Group Physical Bitcoin (BTCE) returned +45.7% and the ETC Group Physical Ethereum (ZETH) returned +48.3% in EUR-terms last month.

Overall, the cryptoasset markets were buoyed by a confluence of positive factors including significant US spot Bitcoin ETF inflows, significant exchange outflows and futures short liquidations.

Despite the fact that cryptoasset sentiment is relatively stretched at the moment which increases the risk of a short-term pull-back, we remain very optimistic for the medium- to long-term outlook on account of ongoing ETF inflows, the upcoming Halving in April, and increasing support from looser monetary policy. Read more here.

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Source of all data: ETC Group. Data as of 29.02.2024. 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 29.02.2024

ETC Group Physical Bitcoin44.21%66.11%128.77%47.92%161.08%29.31%499.86%


ETC Group Physical Ethereum48.39%69.80%101.75%48.36%107.55%N/A116.03%
Ether (Ethereum)47.33%64.83%103.67%46.13%107.85%132.27%118.42%


Please note that all performance figures are showing net data. Source: Bloomberg / HANetf. Data as of 29/02/2024

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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