Crypto ETFs sink into our Weekly Worst ETFs list

Cryptocurrencies lose sight of the $2.5 trillion dollar mark

Crypto ETFs have sat at the top realm of our Weekly Best ETFs list for several week in a row, but a minor setback in “cryptoland” last week sending several Crypto ETFs to the loser section.

Between August 23rd and 27, the total cryptocurrency market cap sank by almost 3% but was still able to breath with its neck held above the two trillion dollar mark. No major catalysts were in play except for the technical indicators that were screaming for correction after the recent amazing run of all crypto assets.

The bulk of the Crypto ETF action was in Europe, where Crypto ETPs and ETFs are mostly authorized compared to the United States, which continues to fend off Bitcoin and other Crypto ETFs filings. (For more information, read our article “Bitcoin ETFs: When will it hit the US market?”)

Last week, 21Shares Ripple XRP, CoinShares Physical XRP, 21Shares Polkadot ETP, 21Shares Stellar ETP and 21Shares Bitcoin Cash ETP each lost more than 8.0% during the mini-bear run. 

Will cryptocurrencies bounce back this week? Tune in next week to our weekly top and bottom ETFs list to find out!

Utilities ETFs slump as risk-on mode resumed

Utilities shares lost shine last week as investors’ risk appetite were refreshed after the Federal Reserve Chairman Friday remarks on tapering.

Powell’s speech, which was delivered at the Jackson Hole symposium in Wyoming, marked a tentative step towards dialing down the Fed’s monetary stimulus but avoided any signals of a more sudden withdrawal that risked spooking markets.

The remarks triggered a wave of optimism that shifted market eyes towards aggressive and cyclical stocks. Defensive sectors however, like Utilities were among the victims. (For more information, read our article “Equity markets cheer the Jackson Hole symposium”)

In Europe, ETFs with exposure to utility stocks were in red territory. SPDR MSCI Europe Utilities UCITS ETF, iShares STOXX Europe 600 Utilities UCITS ETF and Lyxor STOXX Europe 600 Utilities UCITS ETF lost each around 3.0%

Utilities ETFs in America followed path, with Virtus Reaves Utilities ETF, Utilities Select Sector SPDR Fund and iShares Global Utilities ETF losing each roughly 2.0% last week.

Honorable mentions: VIX ETFs

As risk-off resumed, VIX ETFs slumped. “VIX” is an indicator known as the "investor fear gauge," because it reflects investors' best predictions of near-term market volatility, or risk. In general, VIX starts to rise during times of financial stress and lessens as investors become complacent.

ProShares VIX Short-Term Futures ETF and Horizons BetaPro S&P 500 Vix Short-Term Futures ETF fell by more than 5.0%.

Bottom 10 ETFs of the Week: Crypto ETFs and Utilities ETFs

Europe

• 21Shares Ripple XRP ETP: -10.9%
• CoinShares Physical XRP: -10.7%
• 21Shares Polkadot ETP: -9.1%
• 21Shares Stellar ETP: -9.0%
• 21Shares Bitcoin Cash ETP: -8.8%
• Lyxor S&P 500 VIX Futures Enhanced Roll UCITS ETF: -4.0%
• LTCetc - ETC Group Physical Litecoin: -4.0%
• VanEck Vectors Ethereum ETN: -3.6%
• KraneShares ICBCCS SSE STAR Market 50 Index UCITS ETF: -3.5%
• 15 FiCAS Active Crypto ETP: -3.1%

Americas

• ProShares VIX Short-Term Futures ETF: -6.8%
• Horizons BetaPro S&P 500 Vix Short-Term Futures ETF: -5.3%
• AdvisorShares Ranger Equity Bear ETF: -3.4%
• AGFiQ US Market Neutral Anti-Beta Fund: -3.2%
• ProShares Ultra VIX SHORT-TERM FUTURES ETF: -3.0%
• Global X MSCI Pakistan ETF: -2.7%
• KraneShares SSE STAR Market 50 Index ETF: -2.7%
• ProShares VIX Mid-Term Futures ETF: -2.5%
• Virtus Reaves Utilities ETF: -2.1%
• Utilities Select Sector SPDR Fund: -2.0%

Keep reading:

• Best ETFs of the week: Oil & Natural Gas ETFs
• Best Cybersecurity ETFs: A hack to a booming market?
• U.S Bitcoin Filings: Where are we now?

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