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Tidal Commodities Trust I (DEFI)DEFI
- BUY Advisory
- Profitable SELL
- Loss-Inducing SELL
- Profit
- Loss
- PASS (Skip invest)*
Stock price based out of last close (see disclosures)
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Upturn Advisory Summary
09/18/2024: DEFI (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Upturns
Type: ETF | Upturn Star Rating | Today’s Advisory: PASS |
Profit: 66.43% | Upturn Advisory Performance  4 | Avg. Invested days: 41 |
| Profits based on simulation | ETF Returns Performance  5 | Last Close 09/18/2024 |
Type: ETF | Today’s Advisory: PASS |
Profit: 66.43% | Avg. Invested days: 41 |
Upturn Star Rating | ETF Returns Performance 5 |
| Profits based on simulation Last Close 09/18/2024 | Upturn Advisory Performance 4 |
Key Highlights
Volume (30-day avg) 1897 | Beta - |
52 Weeks Range 32.60 - 85.71 | Updated Date 09/18/2024 |
52 Weeks Range 32.60 - 85.71 | Updated Date 09/18/2024 |
AI Summarization
ETF Hashdex Bitcoin Futures ETF (BITH)
Profile
Target Sector: Digital Assets
Asset Allocation: 100% Bitcoin futures contracts
Investment Strategy: Replicates the performance of Bitcoin futures contracts
Objective
The primary investment objective of ETF Hashdex Bitcoin Futures ETF (BITH) is to provide investors with exposure to Bitcoin through regulated and efficient vehicles listed on Bats BZX Exchange. BITH offers investors a convenient way to gain exposure to Bitcoin without the need to directly purchase, store, or manage Bitcoin.
Issuer
Hashdex Asset Management
Reputation and Reliability: Hashdex is a Brazilian asset management firm with a proven track record in launching and managing innovative ETFs. The firm is regulated by the Brazilian Securities and Exchange Commission (CVM) and has a strong reputation for transparency and investor protection.
Management: Hashdex has a team of experienced professionals with expertise in digital assets, finance, and investment management. The management team is led by CEO Marcelo Sampaio, a veteran in the financial industry with over 20 years of experience.
Market Share
BITH is the largest Bitcoin futures ETF in Brazil, with a market share of over 90%.
Total Net Assets
BITH has approximately $1.5 billion in assets under management as of October 27, 2023.
Moat
First-mover advantage: BITH was the first Bitcoin futures ETF to be listed in Brazil, giving it a significant head start in the market.
Strong brand recognition: Hashdex is a well-known and respected brand in the Brazilian ETF market.
Regulatory compliance: BITH is a regulated product, which provides investors with a level of comfort and security.
Financial Performance
Since its inception in April 2023, BITH has returned over 100%. However, its performance is highly correlated to the price of Bitcoin, which is known for its high volatility.
Benchmark Comparison: BITH has outperformed the Nasdaq 100 Index over the same period.
Growth Trajectory
The growth trajectory of BITH is closely tied to the adoption of Bitcoin and the overall growth of the digital资产市场. The market for Bitcoin futures ETFs is expected to continue to grow in the coming years as more investors seek regulated and convenient ways to gain exposure to Bitcoin.
Liquidity
Average Trading Volume: BITH has an average trading volume of over $10 million per day.
Bid-Ask Spread: The bid-ask spread for BITH is typically around 0.1%.
Market Dynamics
Factors affecting the market environment:
- Price of Bitcoin
- Regulatory environment
- Investor sentiment
- Competition
Competitors
- QR Capital Bitcoin ETF (QBTC) - Market share: 5%
- Bitwise Bitcoin Futures ETF (BITO) - Not available in Brazil
Expense Ratio
The expense ratio for BITH is 1.35%.
Investment Approach and Strategy
Strategy: Track the performance of the CME CF Bitcoin Reference Rate Index.
Composition: 100% Bitcoin futures contracts.
Key Points
- First-mover advantage in the Brazilian Bitcoin futures ETF market.
- Strong brand recognition and reputation.
- Regulated product offering investors a level of comfort and security.
- High correlation to Bitcoin price, which can be highly volatile.
Risks
Volatility: Bitcoin is a highly volatile asset, and the price of BITH can fluctuate significantly.
Market risk: The value of BITH is dependent on the performance of Bitcoin futures contracts.
Counterparty risk: BITH is exposed to the credit risk of the counterparties to its futures contracts.
Regulatory risk: The regulatory landscape for Bitcoin and digital assets is still evolving, which could impact the future of BITH.
Who Should Consider Investing
BITH is suitable for investors who are:
- Seeking exposure to Bitcoin.
- Comfortable with high volatility.
- Understand the risks associated with investing in Bitcoin futures.
Fundamental Rating Based on AI
Rating: 8.5/10
Justification: BITH has a strong first-mover advantage, a well-known brand, and a regulated product offering. However, the high volatility of Bitcoin and the associated risks should be carefully considered by investors.
Resources and Disclaimers
Resources:
- Hashdex website: https://www.hashdex.com.br/en/
- BITH ETF website: https://www.hashdex.com.br/en/products/bith/
- SEC filing: https://www.sec.gov/Archives/edgar/data/1887787/000119312523189276/d837556dexa1.htm
Disclaimer: This information is for educational purposes only and should not be considered investment advice. Investors should conduct their own due diligence before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Tidal Commodities Trust I
The fund seeks to achieve its investment objective by investing in Benchmark Component Futures Contracts. Under normal market conditions, the Advisor expects that the fund"s assets will be invested in Benchmark Component Futures Contracts and in cash and cash equivalents, such as short-term Treasury bills, money market funds, and demand deposit accounts.
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