DigitalX (ASX: $DCC) Monthly Update on Funds and Digital Asset Holdings

DigitalX Limited (ASX: $DCC) provided its monthly update on funds under management and the value of Bitcoin and digital asset holdings as at the end of May 2024. The DigitalX Bitcoin Fund increased by 5.7% for the month, while the DigitalX Fund increased by 9.5% compared to the S&P Cryptocurrency Top 10 Equal Weight Index (AUD). The digital asset market outperformed the All Ordinaries Index and gold (AUD) over the month. Additionally, the approval of eight spot Ethereum ETFs by the U.S. Securities and Exchange Commission (SEC) contributed to significant price gains for Ethereum, closing at US $3,760.

DigitalX CEO, Lisa Wade, on May's Performance and Market Outlook

'It was good to see a rebound in digital assets in May buoyed by the Ethereum ETF approvals and macro events. Whilst we were narrowly outperformed by the S&P Cryptocurrency Top 10 Equal Weight index (AUD), both our Digital Asset Fund and the Index outperformed Bitcoin. We are well positioned for an alternatives rally noting that the 'Alts' space has now begun to gain steam on its own ETF narrative. Very pleasingly there is a lot of positive momentum in the real world asset tokenisation (RWAT) narrative and a lot of activity with institutions in this space. We are building the portfolio for this scaling up activity in 2024. Many networks and protocols appear to be incorporating RWAT strategies and gaining great momentum with early institutional testing which could prove to be pivotal as projects go live.'

DigitalX (ASX: $DCC) May 2024 Summary and Outlook

In May 2024, DigitalX (ASX: $DCC) reported an increase in the value of its Bitcoin and digital asset holdings, with the DigitalX Bitcoin Fund and DigitalX Fund showing positive performance. The approval of eight spot Ethereum ETFs by the SEC contributed to significant price gains for Ethereum, and the digital asset market outperformed traditional indices. DigitalX CEO, Lisa Wade, expressed optimism about the rebound in digital assets and the positive momentum in the real world asset tokenisation narrative. The company is well positioned for potential scaling up activity in 2024 and is actively building its portfolio for this purpose. With the increasing incorporation of RWAT strategies by many networks and protocols, early institutional testing is gaining momentum, which could be pivotal as projects go live.