Blockchain: No More Lines at the DMV BLOK closed July with a positive NAV return of 3.52% and YTD performance of positive 22.83% (see standardized performance). Then August hit, and market volatility erupted. This, of course, has had a negative effect on the price action of Bitcoin, ETF flows, and many of the stocks in the portfolio that tend to be high beta. However, while the correction in price is a challenge to watch, it does not change the momentum of the infrastructure buildout in Blockchain or, according to our research, the long-term trend around Bitcoin adoption.

New growth-oriented covered call ETF seeks to lower volatility and pay high current income on a monthly basis.

New growth-oriented covered call ETF seeks to lower volatility and pay high current income on a monthly basis.

Audio Commentary by Tim Seymour

Chicago, August 29, 2024—Amplify ETFs announces August income distributions for its ETFs.

Chicago, August 29, 2024—Amplify ETFs announces August income distributions for its ETFs.

Audio Commentary by Tim Seymour

Audio Commentary by Tim Seymour

Blockchain: Adoption Trends Are Accelerating BLOK was down 3.81% (NAV return) in the month of August, with YTD performance of positive 18.15% (see standardized performance). Long term adoption is challenging to measure in the face of near-term market volatility, but the evidence we bring you in this latest report shows a breakthrough in the insurance market as well as further adoption of Real World Assets (RWA) in the form of Stablecoins and broad “Active Addresses.”

COMMENTARY August has typically brought some seasonal weakness and increased volatility in the equity markets, which has been especially true over the last several years and turned out to be true this year too. Within the first several days of the month the CBOE Volatility Index (VIX) reached an intraday high of more than 65, a near historic level that has only been surpassed twice; briefly during the onset of the COVID-19 pandemic and twice during the global financial crisis during 2008-2009. Thankfully, as quickly as volatility jumped and the corresponding equity market selloff arrived, markets found their footing and began to rebound with investors once again looking for cues from the Fed, corporate earnings and incoming economic data.