We are delighted to share with you our Digital Assets Update. In this note, we update you on the latest news with regards to:
- Bitcoin and other major cryptocurrency coins
- Bitcoin and Blockchain related equities
The latest months were marked by the following events:
• SEC’s approval of 11 spot bitcoin ETFs on January 10th is a transformative step for Bitcoin, fostering institutional acceptance and potentially attracting significant investments.
• Recent technology upgrades have contributed to boosting Bitcoin’s outlook. Second layers like Stacks or BitVM position Bitcoin as a smart contract infrastructure layer, broadening its role beyond a store of value or currency.
• In October 2023, Ethereum’s ProShares, VanEck, and Bitwise ETFs marked a pivotal moment, gaining SEC acknowledgment of Ether as a commodity. Decisions on spot Ether ETFs are slated for May 2024.
• Q4 saw a surge in blockchain-related equities, driven by anticipation of the first Bitcoin spot ETF approval. Companies tied to Bitcoin production or trading outperformed.
We hope you will enjoy the read and we welcome your feedback. Please contact [email protected] or your usual TOBAM contact for any requests.
Please fill in the form below to request the research note:
