Top ETF Stories Of Fourth Quarter 2020

Bitcoin Soars

As soon as COVID-19 hit the globe, social distancing mandates and fears that notes may be carriers of the virus made the concept of digital currency popular (BITCOMP). In October, PayPal Holdings Inc (PYPL) announced that it will allow customers to hold bitcoin and other virtual coins in its online wallet and shop using cryptocurrencies at the 26 million merchants on its network.  PayPal's competitor Square (SQ) also launched support for bitcoin back in 2018 through its Cash app. 

While many corporations are accepting cryptocurrencies now, several central banks are also considering the rollout of digital currencies lately.  Such moves are positive for bitcoin as the price crossed the $20,000-mark for the first time on Dec 16 (read: Bitcoin Tops $21,000: ETFs to Play).

Blockchain ETFs like Amplify Transformational Data Sharing ETF (BLOK) gained from the move as “the blockchain acts as the digital public ledger where bitcoin transactions are processed and recorded”.

E-Commerce Winning

While COVID-19 has made e-commerce a winner this year, the holiday season has made it more lucrative.  Consumers shelled out about $9 billion (a new record) on the web on Black Friday, up 21.6% year over year, according to data from Adobe Analytics (which tracks website transactions from 80 of the top 100 U.S. online retailers), as quoted on CNBC. As a result, Black Friday 2020 came across as the second-largest online spending day in history in the United States, behind Cyber Monday last year, Adobe indicated.

Cyber Monday 2020 turned out the biggest digital sales day in history in the United States. Thanksgiving Day online sales also hit a record $5.1 billion, up 21.5% from last year, per Adobe, as quoted on CNBC. Amplify's Online Retail ETF (IBUY) and ProShares Online Retail ETF (ONLN) have added about 100% this year.

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