Mo. Aug 15th, 2022

The SEBAX Index has develop into a benchmark crypto index for investors looking for the security processes of a Swiss Bank, excellent performance record and the liquidity of an exchange-traded ETP.

The success story of the SEBAX Index, a revolutionary index consisting of five to eight Crypto Currencies, started in 2019. Back then, all leading crypto indices were simply designed around market capitalization. The SEBAX Index instead, was structured to include alternative coins based on SEBA Bank’s proprietary selection process and research. This approach has worked out very well and the SEBAX Index has outperformed Bitcoin by whopping factor of 2, notably at the same level of risk (measured by volatility), a performance track record that is unmatched in the industry.

Since April 2021, the SEBAX Index ETP is listed at the SIX Swiss Exchange and additional listing venues across Europe are scheduled for December 2021 and January 2022. Investors are increasing looking for secure ways to build a diversified, actively managed crypto exposure and the SEBAX Index has delivered on accounts of performance, liquidity and cost-efficiency.

As a pioneer and regulated Swiss bank with core competence in digital assets, we offer a unique range of services combined with the highest security standards, combining the world of traditional with the world of digital assets.

Please find attached the November monthly reporting for the SEBAX® tracker certificate.

Key takeaways traditional markets

Just as investors were gearing up for a year-end rally, news about the Omicron variant hit markets and erased November’s gains. There was a brief glimpse of hope that – similarly to when the Delta variant emerged – the markets would quickly recover in a V-shape fashion. However, Stéphane Bancel – CEO of Moderna – dented these hopes in a public interview which in turn rattled financial markets further. Mr. Bancel’s prediction is that due to the high number of mutations on the spike proteins, existing vaccines will likely be much less effective against the Omicron variant and that it would take several months before an Omicron-specific vaccine could be produced at scale. In a later interview Pfizer CEO Albert Bourla stated confidence in the efficacy company’s Covid treatment pill, but this news failed to calm markets. Adding fuel to this fire, surging inflation in the US and the Eurozone is likely to severely constrain central banks in their policy responses to renewed lockdown measures. The US Fed Chair commented on the new variant, saying that it poses a threat to the central bank’s dual mandate to achieve price stability and maximum employment. US CPI data has increased by 6.2% in October while German inflation is set to surpass the 5% threshold in November – for both countries the highest increase in almost three decades. The S&P 500 and Eurostoxx 50 closed the month down -0.8% and -4.4% respectively.

Key takeaways cryptocurrency markets

After a strong October, which was the best month since the beginning of 2021, November has been a mixed bag for cryptocurrencies. The total market cap crossed a new all-time high of USD 3 trillion for the first time, only to be followed by market corrections in the second half of the month. While the broader market measured by the Bitwise-10 index posted only small losses of -1.4%, most coins dropped significantly from their recent all-time highs. Bitcoin dropped 5.4%. Despite the successful conclusion of its first two parachain auctions Polkadot lost -8% over the course of the month. Ethereum was the coin that stood out in November, posting a gain of 12%. Part of this price increase may be related to the latest Ethereum Improvement Proposal (EIP) which aims to significantly decrease transaction costs while avoiding network congestion. The Bitcoin network received its long-anticipated ‘Taproot’ upgrade on 14 November, after almost four years of development. It sets out to make transactions fungible, improve the network’s privacy & scalability by reducing the transaction data to be recorded on the blockchain. The impact of the upgrade will only be known in the long term, as more ecosystem participants start implementing and building on Taproot. However, the upgrade did not have significant impact on BTC’s price.

Performance SEBAX®

The performance of the SEBAX® index was effectively flat over the month of November (-0.4%), thereby outperforming Bitcoin by 5%-points. The SEBAX® index tracker now has a 2-year live track record, a unique feature in this new asset class. Over this period, the SEBAX® has outperformed Bitcoin and all other major multi-coin indices. YTD, the index has returned 272.6% and therefore outperformed Bitcoin by 172%-points and 119.5%-points vs. the broad market measured by the Bitwise Index. Just in time for our 2-year anniversary we are delighted to announce that the SEBAX® ETP has been awarded “ETP of the Year” by Xenix and finanzen.ch. The Swiss ETF Awards 2022 honor ETFs and ETPs listed in Switzerland during 2021 across seven categories. The SEBAX® ETP was selected as “Best ETP of the Year”, trumping nominations from well-known Swiss and global ETP providers. The winner was judged on the criteria of excellence in delivery, innovation, and customer impact.

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