Wave Financial crypto’s wealth manager is bullish on bitcoin, while cryptocurrency hits a three-month high

Wave Financial crypto’s wealth manager is bullish on bitcoin, while cryptocurrency hits a three-month high

These include a volatility-based derivatives fund, as well as two venture capital strategies, and a novel tokenised whiskey barrel fund which aims to capture the value appreciation of Kentucky bourbon ageing. Since emerging as one of the first regulated investment advisors in the cryptocurrency space in the US, Wave Financial now has offices in Los Angeles and London, running five investment strategies and a range of wealth management functions. “Our ethos is about giving broad diversified exposure to crypto,” he said. “We do that through funds, most of which are actively managed, or VC. We also have a managed account platform that offers high net worth individuals either exposure to crypto, or yield on their existing crypto exposure, and we have treasury management for corporates and protocols.”

“At a macro level, what’s transpired has been an onslaught of mostly negative news over the last six months – China closing down the bitcoin miners; the ESG observations by Elon Musk and others – which has put pressure on bitcoin as a bellwether,” he told Hedgeweek on Monday. Bitcoin serves almost a bellwether for digital currencies, Perruccio observed, noting it represents between 46-48 per cent of digital currencies’ market cap.

“But it’s been a positive development, because bitcoin has withstood that very strong onslaught and has settled around the 30s.” The world’s foremost cryptocurrency staged a dramatic rebound early on Monday following protracted price volatility, nearing a two-month high of almost USD40,000 as rumours surfaced that Amazon may begin accepting the coin as a payment method.

Turning to the ongoing institutionalisation of digital assets, Perruccio believes the arrival of institutional allocators, the proliferation of listed products, the development of “intelligent” regulatory oversight, and the growing number of service providers, such as custodians, all bodes well for the medium-to-long-term future of the sector. “A lot of what I was hearing in the digital space was analogous to what I had heard in the very early days of hedge funds,” Perruccio says, pointing to initial market scepticism and investor reluctance towards the asset class. “It has these characteristics that hedge funds identify as being very useful to have in their portfolios,” he added. “Understandably, one of the strategies that has made money over the last two years has been high-velocity trading with algorithms.  But that has got a lot harder over recent months, and a lot of those strategies got whipsawed, because bitcoin has been really volatile.”

Perruccio said bitcoin is “inherently deflationary”, with a limited number of coins that can be issued, with a halving process approximately every four years which creates a deflationary effect. Wave Financial’s crypto derivatives-based strategy, the BTC Digital Income and Growth Fund, is up 42 per cent so far this year, having gained almost 146 per cent in its first full year of operation. Using a covered call approach, the fund aims to capitalise on bitcoin’s long-term growth attributes and generate a significant premium from the asset’s high volatility.

The News Highlights

  • Wave Financial crypto’s wealth manager is bullish on bitcoin, while cryptocurrency hits a three-month high
  • Check the latest News news updates and information about business, finance and more.
Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
Coronaviruses in Ohio: Hospitalized Children
Coronaviruses in Ohio: Hospitalized Children
That’s the most recent data on new hospital admissions. According to the Ohio Hospital Association, 159 kids were admitted to the hospital with COVID-19 from ...
Find here 5 things not to expect from the new iPhone 13 coming tomorrow
Find here 5 things not to expect from the new iPhone 13 coming tomorrow
A redesign The iPhone 13 is set to be announced tomorrow at the “California Streaming” event. With rumors about it flourishing every day, read on as we ...
The Samsung Galaxy A30s has received Android 11 certification, indicating that the update is nearing completion
The Samsung Galaxy A30s has received Android 11 certification, indicating that the update is nearing completion
The Galaxy A30’s Android 11-based Wi-Fi certification and the actual release of the update happened two weeks apart, so the Galaxy A30’s could get its next ...
Tell Nintendo if you want Bayonetta 3 on PlayStation or Xbox
Tell Nintendo if you want Bayonetta 3 on PlayStation or Xbox
It’s already pretty clear to whom these request should go! I mean, the game’s brand-new trailer does end with a big Nintendo logo. If that was still too ...
People’s Pets ‘Clones’ by Louisville Company as Stuffed Animals
People’s Pets ‘Clones’ by Louisville Company as Stuffed Animals
As Amber Wardrip handed her husband the “cloned” boxer, it felt like giving him a piece of his beloved pet back. The purchase was goofy and emotional all at ...
CVS Health training tells workers to ‘understand their privilege’ and hire based on diversity
CVS Health training tells workers to ‘understand their privilege’ and hire based on diversity
“Understanding our privileges and how to take advantage of them so we can support others is a critical component in being an active partner,” CVS employees ...
More reasons to learn about finance
More reasons to learn about finance
7. The largest increase in bankruptcies before the pandemic was among Americans 65 and older, who did not save enough for retirement, and are, in many cases, ...
The COVID-19 vaccine mandate for healthcare professionals goes into effect
The COVID-19 vaccine mandate for healthcare professionals goes into effect
As of Sept. 22, 82% of hospital workers on Long Island have completed their vaccine series as of last week. In Nassau it’s 84%, and in Suffolk it’s 81%. Across ...
Has Facebook’s Dark Mode vanished? Here’s how to repair it on iOS
Has Facebook’s Dark Mode vanished? Here’s how to repair it on iOS
If Dark Mode isn’t accessible, force quit the app by sliding you finger up slightly from the bottom of the home screen, then swipe up on the Facebook app. ...
Dice raises $122M at a $400M estimation for its intelligent event discovery and platform for booking
Next In-Store PS5 Restock Announced
Right now, there’s no word of a similar restock for the Xbox Series X, which is just as difficult to order as the PS5. It’s unclear why the promotion is ...
Show next
Compsmag - Latest News from tech, business and health
Logo