Best ETFs of the week: Cryptocurrency and agriculture ETFs

Ethereum rebounds after Blockchain update and Agriculture up on forecasts release

Last week was great for US equities in terms of performance. The publication of several well-oriented economic indicators pushed the market to new all-time highs. Meanwhile, the trend reversed in Europe. With investors’ concerns growing over the spread of the Delta variant of the Coronavirus. Several countries are already talking about a possible fourth wave and additional lockdowns. This information is clearly not a good indicator for European markets which have therefore significantly underperformed compared to the Americans.

However, the best ETFs of the week are not part of the major European or American stock market indices. Last week, it was the turn of the Cryptocurrencies to shine and more particularly the Ether cryptocurrency. The Ether’s Blockchain will be updated at the end of July to become larger and more sustainable. We also find Agriculture ETFs in this top 10, specifically ETFs tracing corn and soybean commodities. Both corn and soybeans obtained bad forecasts in the acreage report released last week, pushing their prices up.

Top 10 ETFs of the Week: Cryptocurrency ETFs and Agriculture ETFs

Europe

• Ether Tracker Euro ETC: +18,06%
• CoinShares Physical Ethereum: +17,16%
• 21Shares Ethereum ETP: +16,72%
• WisdomTree Ethereum ETP: +13,66%
• ETHetc - ETC Group Physical Ethereum: +12,64%
• WisdomTree Corn: +12,29%
• WisdomTree Soybeans: +10,82%
• 21Shares Tezos ETP: +10,74%
• WisdomTree Soybean Oil: +9,43%
• WisdomTree Grain: +9,22%

Americas

• Evolve Ether ETF: +13,54%
• Purpose Ether ETF: +13,41%
• CI Galaxy Ethereum ETF: +13,15%
• 3iQ CoinShares Ether ETF: +13,08%
• Evolve Ether ETF: +12,97%
• Teucrium CORN Fund: +9,88%
• Teucrium Soybean Fund: +8,72%
• Franklin Genomic Advancements ETF: +7,01%
• Bitwise Crypto Industry Innovators ETF: +6,27%
• Teucrium Agricultural Fund: +6,09%

Five out of ten of last week’s best performing ETFs, for both Americas and Europe Top, are exposed to the Ether cryptocurrency. Ether, launched in 2015, is the name of the cryptocurrency of the Ethereum blockchain, a platform for smart contracts. Like the Bitcoin Blockchain, the Ethereum blockchain allows to carry out transactions between two users. However, its originality lies in the fact that it is possible to integrate and attach to the transactions carried out "smart contracts".

A smart contract is a digital contract with the agreement’s terms between the seller and the buyer being written into lines of codes. This contract is linked to a blockchain network. The code drives the execution of the smart contract, and each transaction is irreversible and trackable.

The recent meteoric growth of Ether is notably due to an update of the Ethereum Blockchain, Ethereum 2.0. After several successful tests and sub updates, investors are very optimistic about this new update which is scheduled for the end of July. This new update aims to increase the size of the blockchain network and make it more sustainable by greatly reducing its energy consumption. The high energy consumption being a critical flaw of cryptocurrencies, investors have strongly appreciated the update’s objective.

For the Agriculture ETFs of this top, the growth is mainly due to the release, on June 30, of the United States Department of Agriculture (USDA) acreage report. This report presents the inventory of stocks and the area of planted seedlings of several agricultural resources. For both Soybean and corn plantings the report came with lower forecast than market expectations. This led to a rally towards futures contracts on these two commodities pushing their spot prices up. The Teucrium Agricultural Fund is in the Americas top 10 as the fund is 25% exposed to corn and 25% to soybeans.

Keep reading the Worst ETFs of the week here.

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