DigitalX Limited (ASX: DCC) provided its September 2023 monthly update to shareholders. In the month, the DigitalX Bitcoin Fund dipped 0.4%, while the DigitalX Fund saw a 0.6% decrease. In contrast, the S&P Cryptocurrency Top 10 Equal Weight Index (AUD) experienced a 1.8% drop. Digital assets remained relatively stable despite heightened volatility in traditional markets, where gold fell by 4.7%, and the All-Ordinaries Index declined by 3.6%. The entire September quarter witnessed a decline in digital asset prices, attributed to concerns about an economic slowdown stemming from anticipated higher interest rates. During this period, the DigitalX Bitcoin Fund recorded an 8.6% decrease, the DigitalX Fund fell by 8.0%, and the Index dropped by 7.7%.
September also marked the approval of the first Ethereum futures-based ETFs by the US Securities and Exchange Commission. VanEck, ProShares, and Bitwise received approval and began trading in October. Nevertheless, spot Bitcoin ETF approvals were postponed again, with the next SEC decision expected in November. All DigitalX Fund assets are securely held by an institutional-grade custodian with insurance coverage.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
