The total market value of Bitcoin increased by 1.8% last week. The most important numbers showing the state of Bitcoin are:
The market realised gradient - which shows how much the price of Bitcoin (market cap, more precisely) is fluctuating versus how much the Bitcoin blockchain is getting used (real onchain inflows).
Funding rates on crypto exchanges like Binance – to simplify, these show how much it costs to bet on Bitcoin’s price moving up or down.
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With the recent performance of equity markets amidst a rising interest rate environment, investors have begun to question whether thematic ETFs still have a place in portfolios. There is often an association made between thematics, such as robotics, automation and AI, with technology and growth stocks but this can be a flawed assumption.
Technology stocks have been a big driver of the recent performance of global equity indices, after five years we may now be seeing this trend start to taper. Divergence since the start of 2022 has resulted in the worst underperformance for growth at the start of a year since 1995.
Whilst some investors may believe this rotation is long term and long overdue, the need for diversification has never been more important. In fact, this rotation could be positive for cyclical companies, many of which are featured in ROBO and have been shunned in recent years. The ETFS ROBO Global Robotics and Automation ETF aims to provide a high-quality bias and significant diversification across growth and cyclical areas, such as factory automation. ROBO is not a concentrated bet on a handful of high-flying tech stocks but a selection of best in class robotics, automation and AI stocks from around the world, including industrials, warehouse and logistics automation and healthcare. As a result, when many high valuation tech stocks are off 30-50% from their all-time highs, ROBO is only off ~5%.
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This week's highlights
Oil and resources performed well last week as markets continued to digest the likelihood of several rate rises throughout 2022. The electric vehicle revolution continued to weigh in on lithium prices. The best performers over the week were BetaShares Crude Oil Index ETF - Ccy Hedged (OOO) up 6.2% and BetaShares S&P/ASX 200 Resources Sector ETF (QRE) up 5.3%. The poorest performers were BetaShares Global Robotics and Artificial Intelligence ETF (RBTZ) down 6.2% and ETFS Hydrogen ETF (HGEN) down 5.2%.
Net flows into ETFs remained positive at A$215m. Which consisted of A$251m of inflows and A$36m of outflows. The biggest inflows were in BetaShares Australian High Interest Cash ETF (AAA) and SPDR S&P/ASX 200 Fund (STW). Whilst VanEck Vectors Australian Resources ETF (MVR) had the biggest outflows for the week.
ETF Securities offers a range of precious metal ETFs which are physically backed by the underlying metal. GOLD offers investors a simple, cost-efficient and secure way to access gold by providing a return equivalent to the movements in the Australian dollar price of gold less a daily management fee. Investors have been allocating to bu