Crypto
Hi team, Welcome back. Probably not the only crypto question following the break but appreciate your thoughts on Bitcoin and US ETFs. Where do you sit on this one? Thanks. Jeff
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Answer
Hi Jeff,
Bitcoin and other large crypto offerings have a high correlation to market liquidity and money supply. We expect this area of the market to see some consolidation or a small pullback as financial conditions tighten near term. The changes to SEC regulations have provided some support in recent weeks however some of the steam has already come out of the space. We would expect to see some support when interest rates start to fall but for now we remain neutral/cautious.
