Just read that the first crypto-focussed ETF launches next week (https://www.businessinsider.com.au/betashares-to-launch-firs…). Although I am interested in cryptocurrencies, I haven't spent time to study them and don't fully understand how these work. Although all investments carry some risk, cryptocurrencies appear to carry a higher risk when compared to other financial investment options. At least that's the feeling I get. So what do my fellow OzBargainers think about this ETF? Will it automatically inherit a similar risk profile? Or will this make it easier to invest (indirectly) in cryptocurrencies? Any thoughts on the new ETF itself?
Australia's First Cryptocurrency ETF from BetaShares Coming Next Week on ASX
upended on 29/10/2021 - 22:53
Comments
This thing shouldn't allowed to exist. No underlying nothing. Wish all countries ban this
I don't get where all of these sorts of views come from. No financial assets aside from derivatives have anything "underlying".
In equity markets, the difference between the market cap and book value is the speculative value that investors are paying for growth potential, you can make similar arguments for bonds, commodities, any other asset.
Just take another example - do you really think that the demand from the jewellery industry is what drives the price of gold? If not, then it is speculative value as well. If the price of gold dropped 80% tomorrow, are you going to rush out to buy gold to make necklaces and bracelets?
Making digital assets illegal is shortsighted.
The digital asset industry will be the biggest revenue boom this decade. The smart countries will let it flourish and tax it accordingly while those that ban it is NGMI.
I don't like something so it should be banned.
Indeed
Just buy ETH?
Or if you’rea gambling’s man, shib
recommend something that hasn't moved / pumped / discovered by reddit
Holochain
Why do you think holochain will go up in value in future?
@[Deactivated]: Read up about it, see that it's actually out there then look at the price as compared to the top 100. Finally look at the Reddit activity levels. I'm not saying buy it that's for you to decide.
Safemoon ;)
Dogebonk
PUmP aNd DuMp
The fund says 85% of the index is focused on companies whose revenue comes directly from servicing cryptocurrency markets, or have at least 75% of their assets in crypto holdings, like crypto trading platforms, miners, and the businesses that supply their equipment.
This is NOT a cryptocurrency ETF.
This ETF doesn't directly hodl digital assets but rather stonks in companies that have exposure to digital assets in the form of mining, trading or balance sheet reserves.
It's an alternative way for ma and da investors to get their beaks wet, but the best way is always to buy the coins/tokens and hodl them in a cold wallet.
Remember "Not your keys, not your Bitcoin".
Almost all financial services are designed to remove the fools money while they live in a fantasy world constructed by the media.
nothing of interest in that ETF - just another attempt by non-crypto companies to somehow ride the crypto wave.
Also came across this article on Sydney Morning Herald - https://www.smh.com.au/business/companies/asic-gives-trading…. Not sure if ASX:CRYP from BetaShares is the same as this?