January Insights: A New era for Bitcoin and Digital Assets

Read time:

5 min

Published date:

February 15, 2024

Dear Friends,

On January 10, 2024, a historic milestone was achieved when the SEC approved nine new spot Bitcoin ETFs. This event marks a significant leap from the pioneering days of Bitcoin, aligning the anniversary of the genesis block with its entry into mainstream finance. The journey to this approval was nothing short of a blockbuster script, complete with unexpected twists and a touch of cyber-drama!

The true excitement lies in the potential influx of wealth this approval represents. With the U.S. wealth management sector managing an astonishing $48 trillion in assets, even a modest allocation towards Bitcoin ETFs could see a significant capital shift into the digital asset space in the years ahead.

Against the backdrop of a volatile month, the Fund delivered its first negative monthly return of -1.84%. We were once again pleased to see that the reward strategies delivered in line with expectations and contributed +1,7% to the monthly return.

In a significant milestone for the business we are pleased to inform you that we have appointed Gael Fund Services as the Fund’s independent fund administrator.

We invite you to read our full commentary here for a more detailed explanation of the market events and the Fund performance. We are grateful for your continued support.

Warm regards,

The MidSquare Team

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January Insights: A New era for Bitcoin and Digital Assets