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New York gold futures surged 4.00% intraday, currently trading at $5286.10 per ounce.Eurozone money markets currently estimate a 25% probability of the European Central Bank cutting interest rates by July, compared to 15% on Tuesday.1. Bank of America: The Federal Reserve will cut interest rates twice in 2026, in June and July respectively. 2. Goldman Sachs: Expects the Federal Reserve to implement two rate cuts this year, with the first cut in June. 3. Morgan Stanley: Expects the Federal Reserve to cut interest rates by 25 basis points each in June and September. 4. Barclays: Expects the Federal Reserve to cut interest rates by 25 basis points each in June and December this year. 5. EY Bordrin: Expects the Federal Reserve to cut interest rates by a total of 50 basis points this year, but not until the second half of the year. 6. JPMorgan Chase: No longer expects the Federal Reserve to cut interest rates in 2026; the next action is expected to be a 25 basis point rate hike in the third quarter of 2027. 7. KBC: The next rate cut may not come until March, by 25 basis points. A further 25 basis point cut may be made in the second quarter to reach the neutral interest rate level. 8. Oxford Economics: The Federal Reserve will maintain its policy unchanged until June. A decline in inflation will allow the Federal Reserve to lower interest rates sooner if the labor market weakens further. 9. ING: The baseline forecast is for the Fed to cut rates in March and June, but the apparent risk now is that this pace could be delayed by three months overall. The Feds "dual mandate" will face more pressing pressure to achieve a rate cut in March. 10. ANZ: A pause in rate cuts in January was appropriate, but a prolonged pause is unnecessary. They forecast the FOMC to cut rates by 25 basis points each in March and June. 11. Wells Fargo: Given the two months of economic data to be released before the March meeting, rate cuts could come earlier, in March and June. The risk to their forecast leans towards a delay in the timing of rate cuts.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.3 occurred at 15:27 on January 28 near Sunan County, Zhangye City, Gansu Province (38.93 degrees north latitude, 98.22 degrees east longitude). The final result is subject to the official rapid report.According to the latest data from the Fujairah Oil Industrial Zone in the UAE, as of the week ending January 26, 2026, total refined product inventories at the Port of Fujairah were 23.369 million barrels, an increase of 2.012 million barrels from the previous week. Specifically, light distillate inventories increased by 887,000 barrels to 8.529 million barrels, middle distillate inventories decreased by 133,000 barrels to 3.405 million barrels, and heavy residual fuel oil inventories increased by 1.258 million barrels to 11.435 million barrels.

21Shares Unveils S&P Risk Controlled Ethereum and Bitcoin ETPs

Skylar Shaw

Jul 21, 2022 15:08

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21Shares has launched new risk-adjusted cryptocurrency investment products that are based on the benchmarks of the S&P Dow Jones Indices, with the market meltdown having erased $2 trillion from the value of all cryptocurrencies in only a few months.


More precisely, by rebalancing assets to the U.S. dollar, two new exchange-traded products (ETPs) will aim for a volatility threshold of 40%.

Crypto Investment Products with Considerable Risk

Both exchange-traded products, which will trade on the Swiss SIX Exchange, provide investors access to the two biggest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH).


Notably, the third-largest stock exchange in Europe and the principal capital market for Swiss equities is the SIX Swiss Exchange, which is a member of the larger SIX Group and operates under the supervision of the Swiss Financial Market Supervisory Authority (FINMA).


The ETPs mix exposure to a volatile cryptocurrency with cash in order to attain an overall aim of moderate volatility. They will trade under the tickers SPBTC and SPETH.


This comes after the company's efforts to introduce the S&P Cryptocurrency Broad Digital Industry (BDM) Index, which contains more than 240 tokens and offers a performance snapshot of the cryptocurrency market.


The index is a development of S&P's newly introduced S&P Digital Market Indices family of benchmarks for digital assets. The business has also said that indexes like SPBTC and SPETH attempt to reduce volatility linked to underlying cryptocurrencies.

Asset Rebalancing

The new risk-adjusted cryptocurrency investment products aim for a volatility level of 40% since they match S&P Dow Jones Indices' benchmarks.


This is accomplished by rebalancing the portfolio or adding additional assets to the USD in times of volatility. To put things in perspective, the benchmarks for S&P indexes manage risk by modifying exposure to the underlying index and altering allocations to U.S. dollars on the fly.


For equal-risk-weighted parity strategies, the S&P Risk Parity Index Series as a whole offers a benchmark that is based on rules. By leveraging futures to reflect various asset classes and the risk/return characteristics of funds provided in the risk parity area, these indexes create risk parity portfolios.


According to Arthur Krause, the director of 21Shares' ETP, the aim of 40 percent relates to volatility rather than investing performance, while large-cap stocks in the US have annual historical volatility of 20 percent. This percentage was 70 percent for Bitcoin and 80 percent for Ethereum, according to him.


We are still in a bear market generally, and inflows to funds are at lower levels than previously, despite the company's crypto inflows setting new all-time highs and just topping $100 billion in new assets under management (AUM) year-to-date. This is shown by CoinShares' most recent weekly report, which reveals that investment product volumes remained very low at $1 billion over the course of the week while digital asset investment products had inflows of $12 million last week.


The Crypto Winter Suite, a group of new products that 21Shares announced last month will be available, targeting both retail and institutional investors in nations including France, Germany, Switzerland, Austria, Sweden, the Netherlands, and Australia.

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