Subscribe To Our Newsletter

    Get the latest crypto news right into your email box. No spamming. We hate it too. Only pertinent news you need to know

    Latest News

    Coinbase Fixing Problem That Halted Payments From US Banks

    October 9, 2022

    Binance May Spend Over $1 Billion This Year on Deals, CZ Says

    October 9, 2022

    Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

    May 1, 2022
    Facebook Twitter Pinterest LinkedIn
    RareHippo – Crypto, Bitcoin, Blockchain News & Views
    Facebook Twitter Pinterest LinkedIn
    • Home
    • Bitcoin
    • NewsWire
      1. Latest News
      2. Top Stories
      3. Features
      4. What’s Hot
      5. Must Read
      6. Trending
      7. Spotlight
      8. Editors’ Picks
      9. View All

      Coinbase Fixing Problem That Halted Payments From US Banks

      October 9, 2022

      Binance May Spend Over $1 Billion This Year on Deals, CZ Says

      October 9, 2022

      El Salvador’s Companies Barely Bother With Bitcoin

      March 19, 2022

      New Jersey legislation aims to prevent public officials from being gifted NFTs

      March 18, 2022

      Coinbase Fixing Problem That Halted Payments From US Banks

      October 9, 2022

      Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

      May 1, 2022

      Crypto’s Preferred Currency for Political Donations Isn’t Bitcoin. It’s Dollars

      March 19, 2022

      Meta Sued by Australian Watchdog Over Scam Crypto Advertisements

      March 18, 2022

      Binance May Spend Over $1 Billion This Year on Deals, CZ Says

      October 9, 2022

      Two Senators propose crypto legislation for tax exemption on capital gains

      May 1, 2022

      Wall Street Reluctantly Embraces Crypto

      May 1, 2022

      Warren bill draws outcry over broad terms, but seems unlikely to pass

      March 20, 2022

      Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

      May 1, 2022

      Russia-Ukraine War Is Bringing Out the Good, Bad, & Ugly of Cryptocurrencies

      March 18, 2022

      The ‘world’s most advanced’ digital human wants you to buy her NFT art

      March 15, 2022

      FTX crypto exchange wins license in Dubai to open regional headquarters

      March 15, 2022

      Crypto Startup Founded by Ex-Meta Employees Raises $200 Million

      March 16, 2022

      U.K. Crime Agency Wants to Regulate Crypto Transaction Mixers

      March 15, 2022

      A Wall Street Quant Turns His Crypto Firm Into a Unicorn

      March 14, 2022

      Standard Chartered’s crypto custodian to help clients earn yield on token holdings

      March 14, 2022

      Man passing as UN affiliate convicted for crypto scheme

      March 18, 2022

      The Future of Crypto Is Boring — and Bright

      March 15, 2022

      Investors turn to crypto funds, companies as Russia-Ukraine crisis escalates

      March 15, 2022

      Binance Wins Crypto Licenses From Dubai, Bahrain

      March 15, 2022

      Why Bitcoin’s Environmental Problems Are So Hard to Fix

      March 16, 2022

      Americans Want Crypto From Their Banks

      March 15, 2022

      Why Decentralized Exchanges Are Important in the Crypto Economy

      March 10, 2022

      Binance plots M&A spree as regulators scrutinize crypto trading unit

      March 10, 2022

      Amid New Executive Order, White House Director Sheds Light On Crypto Policy

      March 16, 2022

      Bitcoin Evangelist Saylor Tells Economists Why They’re Wrong

      March 15, 2022

      Crypto Mania in Texas Risks New Costs and Strains on Shaky Grid

      March 15, 2022

      Bitcoin’s scared of commitment, Mr. Biden

      March 15, 2022

      Coinbase Fixing Problem That Halted Payments From US Banks

      October 9, 2022

      Binance May Spend Over $1 Billion This Year on Deals, CZ Says

      October 9, 2022

      Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

      May 1, 2022

      Two Senators propose crypto legislation for tax exemption on capital gains

      May 1, 2022
    • Altcoins
      • Ethereum
      • XRP-Ripple
      • Solana
      • Dogecoin
      • Cardano
      • Shiba Inu
    • Topics
      • Cryptocurrencies
      • Investments
      • Markets
      • NFTs
      • DeFi
      • ETFs
      • DAOs
      • Crypto Regulation
      • Metaverse
      • Blockchain & Web3
      • Blockchain Gaming
      • Crypto Exchanges
      • Crypto Mining
      • Stablecoins
      • Cybersecurity
      • Digital Currencies – CBDC
      • Crypto Book Reviews
      • Technology
      • Internet of Things
    • Opinions
    • Explainers
    • Press Releases

      Former Uber LatAm Head of Policy Leads Crypto Ride-Hailer Drife Toward Planned Global Expansion

      March 7, 2022

      European index provider for crypto assets Vinter raises $3.4m funding

      February 22, 2022

      PR – British crypto processor brings in $60 million for expansion in Europe

      January 25, 2022

      PR – CoinMENA obtains 2nd crypt0 license from European Union

      January 25, 2022

      NFT investment specialist looks to acquire Pluto Digital for £96m

      January 24, 2022
    RareHippo – Crypto, Bitcoin, Blockchain News & Views
    Home»ETFs»Cryptocurrency ETFs Rally Amid Russia-Ukraine War: Here’s Why
    ETFs

    Cryptocurrency ETFs Rally Amid Russia-Ukraine War: Here’s Why

    By Sweta Jaiswal
    March 4, 2022By See Source Below5 Mins ReadNo Comments
    Facebook Twitter LinkedIn Pinterest Reddit WhatsApp Email Tumblr VKontakte Telegram
    Share
    Facebook Twitter Pinterest Reddit WhatsApp Email LinkedIn Tumblr Telegram

    The ongoing Russian-Ukraine war has sparked huge discussions amongst market enthusiasts over whether cryptocurrencies are a safe-haven asset. Yes, you read it right. The rally of more than 22% in major crypto coins like bitcoin and Ethereum in the last seven days has aided the narrative.

    The world’s largest cryptocurrency, bitcoin, has decoupled from traditional markets and risk-on assets amid the Russia-Ukraine conflict. This has particularly supported the idea of looking at the digital currency as the best safe-haven asset as well as a store of value.

    Donate to RareHippo Now!

    Sanctions Put Ruble Under Pressure

    Moscow has begun attacking Ukraine and has strained its relationships with the West. Ukrainian capital, Kyiv, is being attacked, and blasts have been reported. In response to Russia’s move, the United States, European Union, Australia, Japan, Taiwan, Canada and other Western allies have announced stricter sanctions on Russia.

    The European Union has informed about imposing sanctions against more than two dozen Russians, including President Vladimir Putin’s press secretary (per a CNBC article). These sanctions have been imposed aiming the oil oligarchs, Kremlin officials, propagandists, military figures and bankers that play influential roles in supporting Moscow’s economy.

    Heavy sanctions have resulted in huge pressure on the Russian fiat currency, the ruble, presently with the exchange rate of $1 = 110.74 ruble, as against 77 ruble on Feb 20. The significant devaluation of the ruble has compelled people in Russia to store and move money in decentralized cryptocurrencies to safeguard them from further erosion of wealth. Amid the changing market dynamics, bitcoin’s market cap has surpassed the ruble.

    Ukraine Seeks Donations in Cryptocurrency

    Ukraine, which grabbed the fourth position in the blockchain data platform Chainalysis’ 2021 Global Crypto Adoption Index, has been collecting donations for support during the war in the form of bitcoin, ethereum and tether.

    In fact, Ukraine’s Vice-Prime Minister Mykhailo Fedorov tweeted the wallet addresses for donations amid the Moscow attack. $43 million in digital currency is being believed to be already donated to Ukraine’s government and non-governmental organizations since the beginning of the Russian invasion (per blockchain analysis firm Elliptic).

    Kuna, a crypto exchange, witnessed a daily trading volume surge of more than treble to 150 million hryvnias ($5 million) in Ukraine.

    Growing Popularity as ‘Digital Gold’

    According to The Guardian report, bitcoin is generally seen as an alternative to the traditional safe-haven investment — gold. Some analysts also expect to see tough competition between both assets in the near future. According to market pundits, growing retail interest in bitcoin may soon be observed as a form of digital gold.

    Commenting on the idea, Stéphane Ouellette, chief executive of FRNT Financial Inc., has also mentioned that bitcoin “has gold-like properties in that if you hold it you directly control the assets as opposed to governments and banks being in between.

    In a period where banking is destabilized in a region, which is obviously happening in Europe right now, it would make sense to see some flows into BTC as people diversify away from the banking system,” per a Bloomberg article.

    Bitcoin: Safe-Haven Asset?

    Crypto enthusiasts see the Russia-Ukraine war as a game-changer for cryptocurrencies. During the ongoing war times, cryptocurrencies have acted as a store of value as well as allowed to conduct rapid and cost-efficient digital transactions. These distressed times have highlighted the shortcomings of the traditional financial system and cryptocurrencies role as a remedy to them.

    In this regard, Paolo Ardoino, CTO of the crypto exchange BitFinex, commented to The Independent that “In these uncertain times, we have seen an uptick in the utility of bitcoin and other cryptocurrencies. It goes without saying the defining characteristics of Bitcoin allow it to act as a safe haven during turbulent times.”

    Cryptocurrency ETFs That Are Gaining

    Against this backdrop, let’s take a look at some cryptocurrency ETFs that have been rallying since Moscow’s invasion of Ukraine:

    ProShares Bitcoin Strategy ETF BITO — up 16.7% over the past week

    ProShares Bitcoin Strategy ETF is the first U.S. bitcoin-linked ETF offering investors an opportunity to gain exposure to bitcoin returns in a convenient, liquid and transparent way. The fund seeks to provide capital appreciation primarily through managed exposure to bitcoin futures contracts.

    BITO has amassed AUM of $1.11 billion and charges an expense ratio of 0.95%. Also, ProShares Bitcoin Strategy ETF has an average daily trading volume of about 7.7 million shares (read: ETF Strategies to Combat Red-Hot Inflation Readings).

    VanEck Bitcoin Strategy ETF XBTF — up 16.7%

    The VanEck Bitcoin Strategy ETF seeks capital appreciation by investing in bitcoin futures contracts. The Fund is actively managed and offers exposure to bitcoin-linked investments through an accessible exchange traded vehicle. XBTF has an AUM of $26.8 million with an expense ratio of 0.65%. VanEck Bitcoin Strategy ETF trades in average daily volume of about 34,000 shares.

    Investors can also take a look at the blockchain ETF:

    Crypto news & Views

    Amplify Transformational Data Sharing ETF BLOK — up 10.8%

    BLOK is an actively managed ETF that seeks to provide total return by investing at least 80% of its net assets in equity securities of companies actively involved in the development and utilization of blockchain technologies. The fund has amassed $998.2 million in assets and charges an expense ratio of 71 basis points. BLOK has an has an average daily trading volume of about 563,000 shares (read: 5 Popular ETF Investment Themes to Consider in 2022).

    Read full story on Zacks

    ETFs Investment
    Previous ArticleLemniscap, Jump Crypto Lead $4M Bet on GameFi Firm metaENGINE
    Next Article Shake Shack Tests Bitcoin Rewards to Lure Younger Consumers

    Related Posts

    Coinbase Fixing Problem That Halted Payments From US Banks

    October 9, 20221 Min Read

    Binance May Spend Over $1 Billion This Year on Deals, CZ Says

    October 9, 20223 Mins Read

    Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

    May 1, 20224 Mins Read

    Two Senators propose crypto legislation for tax exemption on capital gains

    May 1, 20225 Mins Read

    Wall Street Reluctantly Embraces Crypto

    May 1, 20225 Mins Read

    Warren bill draws outcry over broad terms, but seems unlikely to pass

    March 20, 20225 Mins Read
    Add A Comment

    Leave A Reply Cancel Reply

    Donate to RareHippo Now!
    Latest News

    Coinbase Fixing Problem That Halted Payments From US Banks

    October 9, 2022

    Binance May Spend Over $1 Billion This Year on Deals, CZ Says

    October 9, 2022

    Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

    May 1, 2022

    Two Senators propose crypto legislation for tax exemption on capital gains

    May 1, 2022

    Wall Street Reluctantly Embraces Crypto

    May 1, 2022
    Follow US & Win Prizes
    • Facebook
    • Twitter
    • LinkedIn
    • Pinterest
    Don't Miss
    Crypto Regulation

    Putin pumps the brakes on Russian Central Bank’s push to ban crypto, sees future in mining

    January 26, 20222 Mins Read

    Russian President Vladimir Putin is not totally on board with the Central Bank of Russia’s…

    How Much Money Can You Make From Crypto Mining?

    December 28, 2021

    Reddit’s users will be able set any NFT as their profile picture, similar to Twitter

    January 27, 2022

    How Much Are Cryptocurrency Exchange Fees?

    January 2, 2022

    Subscribe to Our Newsletter

    Get the latest crypto news right into your email box. No spamming. We hate it too. Only pertinent news you need to know

    Crypto news & Views
    Facebook Twitter Pinterest LinkedIn
    • Home
    • Privacy Policy
    • About Us
    • Donate to RareHippo
    • Get In Touch
    • NewsWire
    © 2023 RareHippo. Powered by 8 Dimensions

    The content of this website is for informational purposes only and is not intended as a substitute for investment or financial advice.

    Type above and press Enter to search. Press Esc to cancel.