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On August 23, Rezaei, Secretary of Irans Supreme National Security Council, stated on August 22 that Iran has told the world not to join the United States in waging an economic war against it. Any country that participates in imposing economic restrictions on Iran is considered an enemy. Rezaei stated that the economic war launched by the Trump administration is also a propaganda war. Although Iran has suffered from long-term US sanctions, it has learned how to circumvent them. He stated that the issue of a maritime blockade cannot be resolved overnight; Iran has been under a US maritime blockade for months, yet it has still successfully sold oil. Furthermore, he stated that any US action in the southern waters of the Strait of Hormuz will be a target for Iran, and Iran will crack down on any meetings between the US and any anti-Iranian forces in the region. Regarding the negotiations between Iran and Oman on the Strait of Hormuz, Rezaei pointed out that one of the important discussions is the coordination on the waterway and trade transit issues, and there are currently no problems in the negotiations. The meeting between the two foreign ministers is progressing smoothly, and the negotiations are ongoing. The Strait of Hormuz is crucial to Iran, and Iran will reach a final agreement with Oman.Iranian Foreign Minister Araqchi and Pakistani Army Chief of Staff Munir spoke by phone on Saturday to discuss regional situation and security issues.Iranian Foreign Minister Araqchi spoke with the Egyptian Foreign Minister to discuss the regional situation, the situation in the Persian Gulf and the Red Sea, and diplomatic efforts to ease regional tensions.According to Al Jazeera, Yemeni authorities say they have discovered a Houthi-laid mine in the Bab el-Mandeb Strait.August 23 – Federal Reserve Chairman Warsh will speak at the annual economic conference in Jackson Hole, Wyoming on August 27. Investors expect him to further clarify how the Fed should deal with stubborn inflation, but it remains uncertain whether he will offer a clear statement. The chairmans communication strategy has had a rough start. Following the July policy meeting, Warsh revealed little about his views on the economy and avoided providing forward guidance on interest rates. Investors interpreted his remarks as a lack of resolve to push inflation back to the target level, subsequently pushing long-term bond yields to their highest levels in two decades.

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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