(21BC) 21Shares Bitcoin Core ETP - Ratings and Ratios

The 21Shares Bitcoin Core ETP EUR (XETRA:21BC) is an exchange-traded product (ETP) that provides investors with exposure to Bitcoin, a decentralized digital currency. As a product listed on the XETRA exchange, it is accessible to a broad range of investors, particularly those in Europe.

By tracking the performance of Bitcoin, the 21Shares Bitcoin Core ETP EUR offers a straightforward way for investors to gain exposure to the cryptocurrency market without directly holding Bitcoin. This can be particularly appealing to investors who are looking to diversify their portfolios or who are interested in the potential upside of Bitcoin but are deterred by the complexities of directly buying and storing cryptocurrency.

With an Assets Under Management (AUM) of 308.98M EUR, the 21Shares Bitcoin Core ETP EUR has established itself as a significant player in the digital assets ETF category. This level of AUM indicates a considerable investor interest in gaining exposure to Bitcoin through a regulated and traditional investment vehicle.

Analyzing the technical data, we observe that the product has shown a positive trend, with its last price of 21.81 being above its short-term (SMA20: 19.17), medium-term (SMA50: 18.87), and long-term (SMA200: 18.12) moving averages. The Average True Range (ATR) of 0.69, representing a 3.18% daily volatility, suggests that the product has experienced some level of price movement. Given its 52-week high of 24.33 and low of 11.66, the current price indicates a recovery from the lows and a level below the recent highs.

Combining both technical and fundamental analysis, a forecast for the 21Shares Bitcoin Core ETP EUR (XETRA:21BC) can be derived. The positive trend indicated by the moving averages, along with the growing AUM, suggests a sustained interest in Bitcoin exposure through traditional investment channels. However, the cryptocurrency market is known for its volatility, and the ETPs performance is closely tied to Bitcoins price movements. If Bitcoin continues to attract investment and sees further adoption, the 21Shares Bitcoin Core ETP EUR could potentially see its price move towards the upper end of its 52-week range or beyond, driven by increased demand. Conversely, any negative developments affecting Bitcoin could lead to a decline. Therefore, a cautious outlook, considering both the technical indicators and the fundamental aspects such as AUM and investor sentiment towards Bitcoin, is warranted.