Weekly Cryptocurrency Commentary

The Global MCAP of cryptos is US$2.61T (all time-high), up 6% WoW, and 562% YoY.

Source: Coinmarketcap

Performance of Select Cryptos

Cryptos were up 1% on average last week.

Source: FRC / Yahoo Finance

Companies operating in the crypto space are trading at an average EV/R of 18.3x (previously 18.1x).

Source: S&P Capital IQ/FRC

The first Bitcoin futures ETF (BITO) in the U.S. started trading last week. Another ETF, the Valkyrie Bitcoin Strategy (BTF), was launched on the NASDAQ last Friday. Two other ETFs are expected to obtain approvals in the coming weeks. We believe these new vehicles will drive more investors to the sector.