Best-Performing ETFs of Last Week
Wall Street surged last week due to high expectations for a significant interest rate cut by the Federal Reserve.
Big Players Increasingly Betting on Bitcoin
Bitcoin is still a young asset relative to more traditional assets such as bonds, commodities, and equities. That youth is one explanation for why it took large professional buyers, including institutional investors, some time to wade into the largest cryptocurrency, but that scenario is changing in earnest.
This Industry Has Interesting AI Inroads
Regarding the most artificial intelligence (AI)-adjacent sectors, technology, and communication services take the cake, but some other groups are sporting AI credentials. Take the case of bitcoin miners, plenty of which reside in the VanEck Digital Transformation ETF (DAPP).
Bitcoin Could Benefit From Political Tailwinds
Over the weekend, bitcoin initially traded lower on news that President Biden will not seek a second term. But the largest cryptocurrency later rallied as markets came to grips with the fact that Vice President Kamala Harris is the likely Democrat nominee.
DAPP: Crypto Stocks Lose Some Luster In 2024 As New ETFs Capture The Spotlight
Bitcoin and other cryptocurrencies have had a strong year so far, both in terms of absolute returns and positive net inflows. The VanEck Digital Transformation ETF (DAPP) has underperformed the Information Technology sector and S&P 500, though, as investors' attention seems focused on spot Bitcoin and Ether funds. DAPP's valuation has improved, but its top-heavy allocation is a risk as price consolidates.
