Home Business Two crypto-related ETFs ranked Australia’s worst in 2022

Two crypto-related ETFs ranked Australia’s worst in 2022

Two crypto-related ETFs ranked Australia's worst in 2022

The BetaShares Crypto Innovators ETF (CRYP) and the Cosmos Global Digital Miners Access ETF (DIGA) lost 82 and 72 percent of their value, respectively, from the start of the year. BetaShares launched its ETF on the Australian Securities Exchange (ASX) in October 2021, weeks before the market hit an all-time high.

The CRYP ETF gives exposure to listed companies like Coinbase and miners like Riot Blockchain, which have not had a great year either. The largest holding in the ETF’s portfolio is Mike Novogratz’s Galaxy Digital, which makes up 12.3 percent of the portfolio.

Other problems

In addition to the macroeconomic headwinds, the crypto market also experienced other problems in 2022. For example, think of the implosion of the Terra protocol in May and of course the collapse of FTX in November of this year. These are two events that did little to boost confidence in the industry and unfortunately led to additional declines.

Bitcoin miners in particular have had a difficult year and DIGA’s portfolio mainly consists of miners. In that respect, it comes as no surprise that this ETF in particular took a few serious blows in 2022. All in all, you would say that the coming year can only get better for the crypto industry. After a year of heavy losses, it is hoped that the bottom is almost in sight and we can look up again soon.

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