Digital Transformation ETF hits all-time low, down more than 50% YTD

The VanEck Vectors Digital Transformation ETF (NASDAQ:DAPP) dives to new all-time trading lows today, touching $17.87 per share. DAPP, which provides market participants access to organizations driving digital transformation across the global economy, is now down 51.7% since its inception back on April 14. DAPP continues to sink on Monday, down -4.36%. The fund provides investors with an indirect way to gain exposure to Bitcoin (BTC-USD) and the crypto market through cryptocurrency exchanges, miners, and other infrastructure companies. The drop in Bitcoin from its recent November 10 high has pulled DAPP down as the two instruments closely correlate together, as seen in the chart below. While DAPP has fallen to new record lows, it provides a potential opportunity for contrarian traders as the ETF has crossed below the oversold threshold on the Relative Strength Index technical indicator. According to the fund's RSI, it is sitting at the 24.06 level, which is well below