Ninepoint’s Proposal to Change Bitcoin ETF Investment Strategy
It is reported that as the price of Bitcoin has fallen by about 47% in the past 12 months, Ninepoint proposes to change its investment strategy of Bitcoin ETF …
It is reported that as the price of Bitcoin has fallen by about 47% in the past 12 months, Ninepoint proposes to change its investment strategy of Bitcoin ETF from buying Bitcoin only to other Web3 and blockchain-related stocks.
Investment management company Ninepoint proposes to change its investment strategy of Bitcoin ETF
Interpretation of the news:
Ninepoint’s proposal to shift its investment strategy for Bitcoin ETF from buying Bitcoin only to other Web3 and blockchain-related stocks comes at a time when Bitcoin’s price has fallen by about 47% in the past 12 months. The move is aimed at providing investors with an alternative to Bitcoin while still benefiting from the potential of the blockchain industry.
The decision to change the investment strategy is informed by the belief that the Web3 and blockchain industry is poised for growth and is a viable alternative for investors looking for exposure to the crypto industry. This approach aligns with the company’s goal of achieving long-term growth potential while mitigating the risks of investing in volatile markets.
The proposal to change the investment strategy is a repositioning strategy that seeks to take advantage of emerging opportunities that may arise in the Web3 and blockchain industry. The shift in strategy suggests that Ninepoint is betting on the future of the blockchain industry as a whole and not just Bitcoin.
The adoption of the new investment strategy will also enable Ninepoint to diversify its holdings, reducing its reliance on Bitcoin as the sole asset in its ‘Bitcoin ETF.’ The diversification strategy will serve to provide investors with an opportunity to invest in a diversified portfolio that is not entirely reliant on Bitcoin’s performance.
The move also marks a significant shift in the cryptocurrency industry as more players embrace the potential of blockchain technology beyond Bitcoin. This comes at a time when large institutions and corporations are increasingly exploring and investing in the blockchain industry, indicating a growing interest in the technology and the potential of blockchain beyond cryptocurrencies.
In conclusion, Ninepoint’s decision to change its investment strategy for its Bitcoin ETF is a bold move that seeks to diversify its holdings while tapping into the growing potential of the Web3 and blockchain industry. The move is an indication of the shifting trends in the cryptocurrency industry, with more companies now exploring the potential of blockchain beyond Bitcoin.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/4623/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
Buncombe County in North Carolina May Suspend Bitcoin Mining Operations for One Year
According to reports, Buncombe County in North Carolina is considering suspending new and existing Bitcoin mining operations in the region for one year. The suspension will give th
-
Bitcoin Whales Quietly Accumulate Again: Analysis and Implications
According to reports, Santiment tweeted that since Bitcoin made a profit of over $30000 on April 11th, Bitcoin whales have quietly accumulated again. Starting from this day, with t
-
Deutsche Bank Eyeing Possible Acquisition of Credit Suisse’s Businesses
According to reports, according to people familiar with the matter, Deutsche Bank is closely monitoring the situation of Credit Suisse Group to look for possible opportunities to acquire certain businesses of Credit Suisse. The internal discussions at Deutsche Bank involved which parts of Credit Suisse would be attractive if they were acquired or spun off by UBS Group, and how large a valuation they would give to these assets if they were listed. Insider: Deutsche Bank is studying the acquisition of Credit Suisse assets Analysis based on this information:Recently, it has been reported that Deutsche Bank is closely monitoring the situation of Credit Suisse Group to explore possible opportunities to acquire certain businesses of Credit Suisse. This move has come amidst the aftermath of the Archegos Capital Management crisis which hit the Swiss bank hard, resulting in a significant decline in its profits and revenue. To make matters worse, Credit Suisse announced last month that it would incur a loss…
-
NYDFS asks Paxos to halt issuance of BUSD; Coinbase affirms currency’s non-security status
According to reports, Coinbase said in its official tweet that this week the New York State Department of Financial Services (NYDFS) asked Paxos to stop issuin…
-
Web3.0 Cryptographic Payment and Clearing System TOPOS Built on PlatON officially released
On April 13th, the 2023 Hong Kong Web3 Carnival \”Global Web3 Payment Innovation Forum\” jointly hosted by Wanxiang Blockchain Laboratory, HashKey Group, and PlatON was officially he
-
Momint Launches Blockchain-driven Solution to Alleviate Energy Dilemma in Africa
On February 21, the South African encryption start-up Momint recently said that it had launched a blockchain-driven solution that could alleviate the energy di…
-
Aavegotchi Community to Decide on Contract Sale of GHST
It is reported that the community members of the encryption collection game Aavegotchi are voting to decide whether to end the contract sale of its original GH…
-
BCB Group to Add Dollar Functions to Fill the SEN Loopholes
According to reports, Oliver von Landsberg-Sadie, CEO of BCB Group, said that the company was speeding up its plan to add dollar functions to help fill the loo…
-
The Taxation of Bitcoin in Denmark: Understanding the Supreme Court’s Ruling
On March 30, the Supreme Court of Denmark ruled in two cases that the profits from the sale of Bitcoin were taxed. The two cases were for the sale of Bitcoin purchased and the sale
-
Why does the Litecoin miner keep dropping offline (How to set up Lite A4+ miner)?
Why does the Litecoin miner keep dropping offline? Before the Bitcoin halving i
-
The Growing Popularity of Bitcoin: The Rise of Addresses Holding 0.1 BTCs
According to reports, according to Glassnode data, the number of addresses holding 0.1 BTCs has reached a historic high of 4295400.
The number of addresses holding 0.1 BTCs has rea -
What is the meaning of kyc aml (Difference between kyc and aml)
What is the meaning of kyc aml? Kyc aml refers to shrinking the name of a crypto
-
Binance Temporarily Halts USDC Automatic Conversion BUSD Function Due to High Outflow
On March 11, according to the Binance platform, the USDC automatic conversion BUSD function has been temporarily closed. According to the asset certificate of …
-
Huobi Exchange Reacts to Market Volatility
On March 10, it was reported that the market fell sharply in the morning due to the influence of macro news, and the price of HT fluctuated abnormally. Sun Yuc…
-
How Coinbase’s Vision Can Accelerate UK’s Cryptocurrency Industry
On April 18th, Coinbase emphasized in a blog article on April 16th that the UK can \”accelerate\” its cryptocurrency industry and become the \”innovation center of the Web3 economy\”.
-
Argo Blockchain’s Subsidiary Deposits Are Safe
On March 14, Argo Blockchain, a Bitcoin miner, said that one of its subsidiaries had cash deposits in Signature Bank, but these deposits were safe and usable. The company added that Argo and its subsidiaries had no exposure to Silicon Valley Bank or Silvergate. （Proactive Investors） Argo: One of its subsidiaries has cash deposit in Signature Bank, but the deposit is safe and available Analysis based on this information:Argo Blockchain, a popular Bitcoin miner firm, made an announcement on March 14 stating that one of its subsidiaries had cash deposits in Signature Bank. However, the company ensured that these deposits were safe and usable, giving some relief to its stakeholders. Furthermore, Argo Blockchain mentioned that neither Argo nor any of its subsidiaries had any exposure to Silicon Valley Bank or Silvergate. Argo Blockchain is a publicly traded company listed on the London Stock Exchange. It was established in 2017 and has since become one of the top Bitcoin mining companies…