CEO Comment
The Gap between Bitcoin and the S&P 500 has largely declined 7% to 38% from last week’s 45% difference. The recent increase in Bitcoins price is largely being attributed to the outflow from Grayscale’s GBTC ETF beginning to slow down. The consistent inflows into the competing ETFs will start to push price pressure to the upside, with a report today stating that BlackRock and Fidelity now own a combined 144,640 Bitcoin worth US $6.5 billion for their spot Bitcoin ETFs or 0.74% of the total circulating supply.
As for the shift list, which we define as the major events and announcements facilitating the broader market’s transition to Web3 financial rails or the internet of value, the top shifts for this week include:
Our Top “alts shift” list featuring shifts in our Alt universe being game changing shifts that drive our thematic approach – A second Gap where the broader digital asset market has circa 65% to close so there is a big opportunity here, we see this as a selective opportunity to select and grow our alts portfolio via our “alThematics” work.
What are our favourite thematics for 2024? We continue to like any infrastructure plays of the shift from Web2 to Web3 financial rails and any plays in the real world asset tokenisation infrastructure, data validation and decentralised storage, and scale up technologies such as ZKrollups – anything Crypto identity realty, we are closely following all the ”de’s” – DeFi, DePin, DeSoc – (want to know what that means? – message us).
CEO Comment
The Gap between Bitcoin and the S&P 500 has largely declined 7% to 38% from last week’s 45% difference. The recent increase in Bitcoins price is largely being attributed to the outflow from Grayscale’s GBTC ETF beginning to slow down. The consistent inflows into the competing ETFs will start to push price pressure to the upside, with a report today stating that BlackRock and Fidelity now own a combined 144,640 Bitcoin worth US $6.5 billion for their spot Bitcoin ETFs or 0.74% of the total circulating supply.
As for the shift list, which we define as the major events and announcements facilitating the broader market’s transition to Web3 financial rails or the internet of value, the top shifts for this week include:
Our Top “alts shift” list featuring shifts in our Alt universe being game changing shifts that drive our thematic approach – A second Gap where the broader digital asset market has circa 65% to close so there is a big opportunity here, we see this as a selective opportunity to select and grow our alts portfolio via our “alThematics” work.
What are our favourite thematics for 2024? We continue to like any infrastructure plays of the shift from Web2 to Web3 financial rails and any plays in the real world asset tokenisation infrastructure, data validation and decentralised storage, and scale up technologies such as ZKrollups – anything Crypto identity realty, we are closely following all the ”de’s” – DeFi, DePin, DeSoc – (want to know what that means? – message us).
