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Best-Performing ETF Areas of Last Week: Cryptocurrency

Wall Street was upbeat last week, with the S&P 500, the Dow Jones, the Nasdaq and the Russell 2000 adding 3.7%, 2.7%, 4.1% and 4.0%, respectively. Among the key events, bitcoin bounced back as hopes of a rate cut in 2023 strengthened. ING expects a rate cut in June 2023, followed by further easing in the second half of the year, as quoted on Coindesk.com.

The global crypto market capitalization rose 1.65% to $1.04 trillion, and the total crypto market volume jumped 7.7% to $93.3 billion in the last 24 hours (as of Sep 10, 2021), according to Coinmarketcap.com.

Plus, there is another big news in the crypto space. Ether (ETH), the native token of Ethereum's blockchain, is slated to experience a key technological upgrade next week, according to CoinDesk data.

The unveiling of Apple’s (AAPL) the iPhone 14 series smartphones was yet another an eyecatcher last week. The four new models are iPhone 14, iPhone 14 Plus, iPhone 14 Pro and iPhone 14 Pro Max. Apple also launched products like Apple Watch Series 8, Apple Watch Ultra and next-gen AirPods Pro (read: Apple ETFs in Focus Post iPhone 14 Launch).

Added to this, the European Central Bank raised interest rates by an unprecedented 75 basis points on Thursday in an attempt to tame soaring inflation. The ECB raised its deposit rate to 0.75% from zero and lifted the main refinancing rate to 1.25%, their highest level since 2011, as inflation is at risk of rising further.

Solar stocks and ETFs gained massively last week, as evident from an 8.5% jump in Invesco Solar ETF TAN. Global energy crisis amid the Russia-Ukraine war and U.S. President Joe Biden’s “Inflation Reduction Act” has pushed up solar energy prices.

Amid all news, crypto topped the space as most winning ETFs came from that segment.

ETFs in Focus

First Trust Skybridge Crypto Industry and Digital Economy CRPT – Up 13.8%

This ETF is active and does not track a benchmark. The First Trust SkyBridge Crypto Industry and Digital Economy ETF seeks to provide investors with capital appreciation. The fund charges 85 bps in fees.

iShares Blockchain and Tech ETF IBLC – Up 13.2%

The underlying NYSE FactSet Global Blockchain Technologies Index composes of U.S. and non-U.S. companies that are involved in the development, innovation, and utilization of blockchain and crypto technologies. The fund charges 47 bps in fees.

Global X Blockchain ETF BKCH – Up 13.2%

The underlying NYSE FactSet Global Blockchain Technologies Index is composed of U.S. and non-U.S. companies involved in the development, innovation and utilization of blockchain and crypto technologies. The fund charges 50 bps in fees.

Fidelity Crypto Industry Digital Payments ETF FDIG – Up 12.6%

The underlying Fidelity Crypto Industry and Digital Payments Index is designed to reflect the performance of a global universe of companies engaged in activities related to cryptocurrency, related blockchain technology, and digital payments processing. The fund charges 39 bps in fees.


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Invesco Solar ETF (TAN): ETF Research Reports
 
Global X Blockchain ETF (BKCH): ETF Research Reports
 
First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT): ETF Research Reports
 
Fidelity Crypto Industry and Digital Payments ETF (FDIG): ETF Research Reports
 
iShares Blockchain and Tech ETF (IBLC): ETF Research Reports
 
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