Deep Knowledge Investing Monthly Depth Report - July 2023 Letter - Mid-Year Review Of Key Issues
Portfolio Pulse from Gary Brode
Deep Knowledge Investing's July 2023 report discusses key issues affecting the investment landscape. Major institutional firms including BlackRock, Bitwise, Invesco, Deutsche Bank, WisdomTree, and Fidelity have filed for Bitcoin ETFs, which could impact the Grayscale Bitcoin Trust (GBTC). The report also discusses mixed economic data, potential issues with the VIX, the possibility of a BRICS currency, and Japan's financial problems. The report concludes with a positive outlook on the younger generation in finance.
August 04, 2023 | 4:26 pm
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POSITIVE IMPACT
The filing of Bitcoin ETFs by major firms indicates growing institutional acceptance of Bitcoin, which could drive up its price.
The approval of Bitcoin ETFs could lead to an increase in institutional acceptance of Bitcoin, which could drive up its price. This is because ETFs would make it easier for institutional investors to invest in Bitcoin.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
The filing of Bitcoin ETFs by major firms could impact Grayscale Bitcoin Trust (GBTC), which has been trading at a large discount to net asset value. If the ETFs are approved, GBTC could trade at NAV again.
The approval of Bitcoin ETFs could lead to an increase in institutional acceptance of Bitcoin, which could drive up the price of GBTC. This is because GBTC allows investors to buy an asset linked to Bitcoin's spot price in their brokerage account.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90