1. SPDR S&P Capital Markets ETF (NYSE:KCE)
5-Year Performance as of August 9: 55.62%
SPDR S&P Capital Markets ETF (NYSE:KCE)’s main aim is to achieve investment results that match the total return performance of the S&P Capital Markets Select Industry Index. SPDR S&P Capital Markets ETF (NYSE:KCE) provides exposure to the capital markets segment of the S&P Total Market Index, which includes the sub-sectors of Asset Management & Custody Banks, Diversified Capital Markets, Financial Exchanges & Data, and Investment Banking & Brokerage. The ETF was established on November 8, 2005. SPDR S&P Capital Markets ETF (NYSE:KCE)’s portfolio consists of 65 stocks and it comes with an expense ratio of 0.35%. It is one of the best financial ETFs to monitor.
Coinbase Global, Inc. (NASDAQ:COIN) is the largest holding of SPDR S&P Capital Markets ETF (NYSE:KCE). Coinbase Global, Inc. (NASDAQ:COIN) offers financial technology and infrastructure services for the crypto economy worldwide. On August 3, the company reported a Q2 GAAP EPS of -$0.42 and a revenue of $707.9 million, outperforming Wall Street estimates by $0.36 and $70.12 million, respectively.
According to Insider Monkey’s first quarter database, 28 hedge funds were bullish on Coinbase Global, Inc. (NASDAQ:COIN), compared to 27 funds in the preceding quarter. Cathie Wood’s ARK Investment Management held the largest stake in the company, comprising 11.7 million shares worth $795.70 million.
Here is what Hayden Capital has to say about Coinbase Global, Inc. (NASDAQ:COIN) in its Q2 2022 investor letter:
“Coinbase (NASDAQ:COIN): The crypto ecosystem moves extremely quickly, and there’s been many new developments since we first invested in Coinbase, a year ago. Most notably, crypto market cap has declined from a peak of ~$3 Trillion last fall, to ~$1.1 Trillion today (a -63% decline, and -72% peak-to-trough; LINK). Crypto is a volatile asset class, and has experienced many draw-downs of similar magnitude in the past. For example, Bitcoin was down -93% during 2011, -85% from 2013-15, and -84% from 2017-18. In this context, the latest draw-down is a pretty normal outcome for this emerging asset class.
A large reason for this volatility is simply because there aren’t any major “real-world use cases” for the asset just yet. In our letter outlining the investment last year, we wrote that crypto is still “in the middle of ‘crossing the chasm’ into mainstream adoption & use cases, which will result in millions of mainstream users needing to transact crypto in some form”…” (Click here to see the full text)
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