What a Meme-able Week
Happy Tuesday, folks! It’s Emma, filling in for Rob again. We’ve been texting a bit about markets and wow, what a week. But first, some housekeeping:
July 30 Live Session
Rob hosted two live sessions last week, covering both YARP and options. I will be paring down those videos and will have them up in the media center for those who could not join in real time. Thanks so much to all who participated. Speaking on Rob’s behalf, I know that one of the things that invigorates him most is the opportunity to speak directly with subscribers, so thanks for tuning in.
There will be another session on July 30 on technical analysis. I’m personally very excited for this one. It’s Rob’s bread and butter, so if you want office hours with someone that has mastered charting, next Tuesday is your chance! These events are free for all ETFYourself.com and SungardenInvestment.com subscribers, but you do need to register in advance. Please see the link below:
Tuesday, July 30 at 4PM: Technical analysis - the market’s “story”
This week’s commentary
I don’t know how many subscribers are fans of memes. I’m a bit embarrassed to say that I am, but hey when they’re good, they’re good. There’s one going around lately that features an extremely exasperated looking person (picture Ben Affleck with a cigarette in one hand and a giant Dunkin’ coffee in the other) that says something akin to “Can we go back to precedented times?” I’m from the Northeast, so the Ben Affleck picture gets me every time. I’m resisting the temptation to comment on how the extended political drama in the US might be bleeding into markets, mostly because something tells me there will be no shortage of opportunities between now and November for that meme to be relevant. I’ll keep my powder dry.
No, today I want to talk about the chart below. Pictured below is the technical pattern for BLOK, an ETF focused on “companies actively involved in the development and utilization of "transformational data sharing technologies."" That’s the long way saying that it invests in companies involved in blockchain technologies. It’s had a spiky revival in the last month or so that dovetails today’s launch of spot Ether ETFs.
I’m no crypto evangelist, nor expert, but in terms of having eyes on ETF flow patterns, this is a moment. Bitcoin ETFs that launched back in January have taken in about $17 billion so far. It’s still early, but that is a sizable number for a new asset class. Big players like Grayscale, VanEck, and even Fidelity are jumping on the Ether spot ETF bandwagon. And they’re waving fees. I’ll leave it to the experts to breakdown the technological nuances of BTC vs. ETH, but I wouldn’t be surprised if we saw a bit of a ride for adjacent blockchain tech ETFs like we saw for BLOK earlier in the year.
Okay, below we will talk ROAR and the 7-ETF model for paid subscribers.