(21XH) 21Shares Crypto Basket - Ratings and Ratios

The 21Shares Crypto Basket Index ETP EUR, traded on XETRA under the ticker symbol 21XH, is an exchange-traded product (ETP) that offers diversified exposure to the cryptocurrency market. As a product from Amun, a company specializing in crypto ETPs, it is designed to track a basket of cryptocurrencies, thereby providing investors with a simplified way to gain access to this asset class.

From a technical standpoint, the recent price action of 21XH indicates a recovery, with the last price at €16.70. The stock is currently above its short-term moving averages (SMA20 at €14.03 and SMA50 at €13.91), suggesting a positive short-term trend. However, it remains below its 52-week high of €20.72, indicating that it has not yet reached its peak from the previous year. The Average True Range (ATR) of 0.62, or 3.71% of the last price, signifies moderate volatility. Given these indicators, a potential trading strategy could involve monitoring the stocks ability to sustain its position above the SMA20 and SMA50, with a potential target of retesting the 52-week high.

Fundamentally, the 21Shares Crypto Basket Index ETP EUR has an Assets Under Management (AUM) of €171.16 million, indicating a considerable investor base and liquidity. As a product that tracks a basket of cryptocurrencies, its performance is closely tied to the overall cryptocurrency market. The diversification it offers can be attractive to investors looking to tap into the crypto space without directly buying individual cryptocurrencies.

Forecasting the future performance of 21XH involves analyzing both technical and fundamental data. Technically, a sustained position above €16.70, coupled with a decrease in ATR, could signal a potential upward trend. Fundamentally, the growth or decline in AUM, as well as the overall performance of the cryptocurrency market, will be crucial. If the cryptocurrency market continues to attract institutional and retail investors, products like 21XH are likely to benefit, potentially driving the price upwards. Conversely, regulatory challenges or a downturn in the crypto market could negatively impact 21XH. Therefore, a likely forecast is that 21XH will continue to track the overall cryptocurrency markets performance, with potential for growth if the market expands, and a target price could be around €18-€20 if the current positive trend continues and AUM increases.