Data from on-chain analytic firms revealed that crypto-related ETFs struggle the most in Australia and the USA. According to the data, two crypto ETFs are the worst-performing ETFs in Australia.
Crypto ETFs Experience Bad Price
The data further revealed that two crypto ETFs were the least-performing ETFs in Australia last year. These ETFs are CRYP (BetaShares Crypto Innovator ETF) and DIGA (Cosmos Global Digital Miner Access ETF).
DIGA and CRYP investors recorded 72% and 82% year-to-date (YTD) negative returns, respectively. In October 2021, BetaShares introduced its CRYP on the ASX (Australian Security Exchange) platform. This was a few weeks before nearly all cryptocurrencies set new all-time highs.
CRYP offers investor exposure to publicly-open blockchain platforms like Coinbase, a crypto exchange, and Riot, a mining platform etc. Galaxy Digital, founded by Mike Novogratz, is the largest holder of CRYP, accounting for 12.3% of its supply circulation.
On the other hand, DIGA was listed on the Cboe Australia exchange in October 2021too. However, after a year’s operation, demands for DIGA started to decline drastically.
Consequently, Cosmos requested the ETF to be delisted from Cboe alongside other poor-performing ETFs. Similarly, in the USA, four crypto-related EFTs had been named as the worst-performing ETFs. However, the list excluded the leveraged and inverse funds.
Viridi BTC Miners ETF (RIGZ), which offers investor exposure to crypto mining firms like Cleanspark and Riot, tops the worst performers’ ETF list. According to statistics, RIGZ gives investors 87% YTD negative returns.
Other ETFs like RIGZ on the list are:
- The Bitwise crypto industry innovators (BITQ).
- The Van Eck Digital Transformation (DAPP).
- The First Trust SkyBridge crypto industry (CRPT).
According to the report, BITQ and DAPP investors recorded a negative return of 84.5% and 86% YTD, respectively. On the other hand, CRPT investors realized about (-)81.5% in YTD.
Financial Economic Markets Faced A General Adverse Condition
Nonetheless, the crypto industry was not the only one incurring losses in the ETF sector. The report revealed that US stocks, bonds, and real estates also have their fair share of the bad market condition.
These sectors also recorded their worst market period for decades. Furthermore, an asset management firm with a mixture of bonds and stocks in a 40/60 ratio reportedly recorded its worst performance since the 1932 Great Market Depression.
In addition, the collection of big technology firms like Meta, Apple, Microsoft, Amazon, and Alphabet (Google), fondly called MAMAA stocks, also had their fair share of price depression. Their value declined by 70%, according to reports.