21Shares: Worst April for S&P 500 in 52 years, New ETP in Town, and More!

This Month in Crypto

The market cap of the overall cryptoassets market is down by 16% since April 2 and dipped to as low as $1.39T on April 18, but quickly jumped back to hover currently at almost $1.82T. Bitcoin and Ethereum are down by 16.6% and 18.9% respectively since last month. April was not a ray of sunshine for the equity market either. The S&P 500 suffered its worst April in 52 years, plunging by 13.3% since the year to date. In this monthly review, we will delve deeper into the macroeconomic factors driving these drops and showcase some valuable onchain metrics indicating healthy fundamentals. We will also shed light on the month’s most significant developments on the regulatory landscape, DeFi, and the wider metaverse.

Figure1: Total Crypto Market Cap Over The Last 30 Days

Source: CoinMarketCap

You can read the full monthly review here.

Weekly Returns

The returns of the top five cryptoassets over the last week were as follows - BTC (1.12%), ETH (1.95%), BNB (1.23%), SOL(-8.47%), XRP (-4.36%).

Net Inflows per 21Shares ETP

The net outflows of our ETPs amounted to $38M in the past week. Find the breakdown of the inflows and outflows per ETP below.

Product Announcements

We are thrilled to announce that in partnership with asset manager ByteTree, 21Shares has just issued the world’s first ETP combining Bitcoin and Gold:

BOLD (ISIN: CH1146882308, Ticker: BOLD) - BOLD combines the best of the old and new worlds of finance. As the oldest asset class, Gold has historically delivered portfolio protection in an inflationary environment and Bitcoin is regarded as the digital equivalent of Gold, considering its growing adoption as a store of wealth. Both are highly liquid assets deemed resistant to inflation and have delivered strong returns historically. BOLD tracks a new customized benchmark/index comprising Bitcoin and Gold via monthly rebalancing. At launch, the weighting is 18.5% Bitcoin and 81.5% Gold.

WKN: A3GYXW. Available in CHF, EUR, GBP, and USD on SIX Swiss Exchange.

Read more here

Media Coverage

Our BOLD ETP made many headlines once the launch was made public last week. "BOLD seeks to take away the hassle of personally managing the two assets while imposing a disciplined process when it comes to delivering higher risk-adjusted returns," 21Shares’ co-founder and CEO, Hany Rashwan, told Blockworks. "We expect to see both retail and professional investors across Europe invest in BOLD as an easy way to gain exposure to cryptocurrencies."

Rashwan also pointed out to Cointelegraph that many people in the crypto community view Bitcoin as a digital alternative to gold. "This hybrid product combines the traditional value of gold with the promising return rates of Bitcoin, which is considered by many as the new gold," he elaborated.

Zero Hedge, Crypto Potato, and ETF Express also picked the story.

Learn More