Coinshares bespreekt de waarde van bitcoin -investeren

CoinShares, a worldwide digital asset ETF provider, was the first firm to launch a digital asset exchange traded product in Europe. The firm remains one of the biggest digital asset ETF managers, with $10 billion in AUM. CoinShares’ Matthew Kimmell and Calvin Tintle recently sat down with Cinthia Murphy, investment strategist at VettaFi, to talk bitcoin investing.

“The fundamental value of bitcoin really rests in its properties,” explained Matthew Kimmell, digital asset analyst at CoinShares, in a product due diligence session hosted on the VettaFi platform. These include scarcity, decentralization, and the bitcoin network itself.

Bitcoin is the token cryptocurrency of the bitcoin blockchain. Created in 2009, when the first bitcoin was mined, the bitcoin network has undergone a series of evolutions. Throughout it all, the decentralized blockchain technology underpinning has remained fundamentally the same in its function. Blockchain works as a decentralized ledger, providing a record of transactions on-chain, that are duplicated across blocks. These ensure both transparency and security, while providing a decentralized place for transactions to occur.

Bitcoin was originally created as a solution for an accessible way to make digital payments globally. But its current primary use case isn’t transactional. “It’s an emerging monetary asset but it’s not used very much as a medium of exchange today,” Kimmell said. “The other aspect that is unique about it is that it’s scarce.”

This scarcity, limited to a supply of 20 million, means that bitcoin provides a store of value. This store of value is where it holds its appeal for today’s investors. To be clear, bitcoin still maintains a range of use cases, including cross-border payments, and as a decentralized monetary asset when geopolitical risks and crisis arise. Primarily, however, investors tend to buy and hold bitcoin, either for speculative purposes or as savings.

The approval of bitcoin futures ETFs in 2021 and spot bitcoin ETFs in 2024 resulted in an influx of investors, both retail and increasingly institutional. Ongoing, favorable regulation in the U.S. also paves the way for further adoption looking ahead. “When it comes to that regulation, it is important to know that you’re investing in an ETF that is allowed by the SEC,” explained Tintle, senior manager of national accounts and distribution at CoinShares.

Bitcoin is currently the sixth-largest asset globally, following on the heels of gold, Nvidia, Microsoft, and other major assets. And it’s increasingly finding its way into portfolios within either a portion set aside for digital assets or for alternatives. “We’re seeing this pickup of allocations anywhere from, let’s call it 1% to 5% within portfolios,” he added.

BRRR seeks to reflect the price performance of the CME CF Bitcoin Reference Rate – New York Variant, minus fees and expenses. This index uses the same six bitcoin exchanges as the CME CF Bitcoin Reference Rate, but calculates bitcoin’s price at New York market close (4 p.m. ET).

The fund is a trust that passively holds bitcoin (meaning it’s physically backed). Shares held are tied to the value of the bitcoin held. BRRR also is not an investment company, and therefore does not fall under the 1940 Act. The bitcoin held is custodied by Coinbase, BitGo, and Komainu, with private keys kept in cold storage. In other words, the means to access the bitcoin held by the custodians remains offline, disconnected from the internet. This provides an extra layer of protection from hacking.

BRRR carries management fees of 0.25%.

For more news, information, and strategy, visit the CoinShares Crypto ETF Hub.