AMINA Bank: AMINAX Monthly Reporting

Global Equity Markets

After a decent rally in May, global equity markets posted a mixed performance over the month of June. While in the US, the S&P 500 and Nasdaq gained 3.46% and 6.18%, respectively, the Eurostoxx-50 fell by 1.80%.

With US inflation numbers coming in lower than forecasted for the second consecutive month, US yields fell, thereby contributing to the positive mood. European risk assets on the other hand were dealt a significant blow when MSCI rejected the plan to add EU debt to its government bond indices.

Cryptocurrency Market

During Q2’24, Bitcoin traded within a range of USD mid-70K at the top and USD 60K at the bottom. Inflows into US spot Bitcoin ETFs rose in the first half of June before falling back in the latter half. The market is anticipating US spot ETH ETFs in the next few weeks.

However, it would be wise not to overestimate the positive effect this would have on ETH’s price, as institutional interest in ETH seems much lower than it was for BTC during its spot ETF approvals in January. Cardano and Litecoin were excluded from the AMINAX Index as of June 28, 2024 as the coins fail to pass the criteria related to technical maturity, social score and onchain activity as per the index guidebook.

Read more in the AMINAX Monthly Report

Get the full details in the attached monthly reporting for the AMINAX tracker certificate. We are at your disposal and happy to answer all your questions. You can reach us by phone 041 552 6490 or Email.

Best regards,
Investment Solutions Team of AMINA Bank

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