Eaglebrook Research Roundup 09/22/23

Research Report

Eaglebrook Research Roundup 09/22/23

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September 22, 2023

In the Research Roundup, we have gathered the most pertinent research from Eaglebrook's asset manager partners. We also highlight an upcoming webinar from Bitwise, "Ethereum: The World's Most Compelling Crypto Asset."

To sign up for the webinar on Thursday, September 21, use this Link.

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Bitwise

In the "Ethereum: The World's Most Compelling Crypto Asset" webinar, Bitwise CIO Matt Hougan and Bitwise Crypto Research Analyst Juan Leon will dive into the key topics Financial Advisors need to know about ethereum. Topics include what is ethereum, the apps on ethereum, how to value ETH, and how ETH fits in a portfolio.
In this newly updated study, the Bitwise research team evaluates the historical impact of adding bitcoin to a traditional 60/40 stocks/bonds portfolio. The study examines various rebalancing strategies, allocation sizes, and holding periods. The study also highlights bitcoin’s counterintuitive influence on portfolio risk metrics and addresses three key questions investors should ask when considering a bitcoin allocation.

ARK Invest

In Ark's first episode of Bitcoin Brainstorm titled "Building and Scaling: a Bitcoin Conversation," the team discusses Jack Dorsey’s thoughts on Bitcoin as the currency of the internet, what countries are moving the fastest to adopt Bitcoin, why Bitcoin might be the most inclusive currency, and more.
In the Bitcoin Monthly, ARK assesses the bull and bear case for bitcoin based on several factors, including macro and on-chain metrics.
In this white paper, ARK details Cointime Economics, a new metric to analyze bitcoin. It provides three case studies illustrating the potential benefits of Cointime. Additionally, ARK discusses improvements to traditional bitcoin valuation metrics, and a new set of on-chain analytics to measure bitcoin’s activity.

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About Eaglebrook Advisors

Eaglebrook is a tech-driven investment manager specializing in bitcoin and digital assets. The firm offers various Bitcoin and Digital Asset SMAs serving financial advisors, registered investment advisors (RIAs), family offices, and institutions. Eaglebrook is backed by wealth management executives and institutions.

For more information, please contact us at +1 (202) 798-1880 or send an email to contact@eaglebrookadvisors.com.

DIGITAL ASSET RISK DISCLOSURES
There are several risks associated with digital assets and digital asset trading. By accessing and using the website www.eaglebrookadvisors.com, you as the investor hereby represent and warrant that you have read the following Digital Asset Risk Disclosure.

Investing in digital assets is speculative and investors need to be prepared to lose some or all of their investment in digital assets. Digital asset prices are highly volatile, and the value of digital assets can rise or fall dramatically and quickly. Investors should carefully consider their financial circumstances and risk tolerance before investing in digital assets and should not trade digital assets unless they have the financial capability to sustain significant losses. The price of digital assets may be influenced by many factors, including the performance of the economy as a whole, liquidity, legislative and regulatory changes or actions at the state, federal, or international level which may adversely affect the use, transfer, exchange, and value of digital assets; flash crashes, market manipulation, changing supply and demand for digital assets, social media environment, inflation, interest rates, national and international political and economic events, the presence of hacking or cybersecurity incidents, technological developments, and overall prevailing psychological sentiment toward digital assets.

Importantly, markets and exchanges for digital assets are not regulated with the same controls or customer protections available in traditional equity, option, futures, or foreign exchange investing. The features, functions, characteristics, operation, use and other properties of any specific digital asset is complex, technical, and may be difficult to understand or evaluate. Information regarding any specific digital asset may be unclear or opaque.

Digital assets are not covered by FDIC or SIPC insurance. Accounts at digital asset custodians and exchanges are not protected by the Securities Investor Protection Corporation (“SIPC”) and are not FDIC insured.

Digital assets carry significant liquidity risk. Investors may find it difficult or impossible to liquidate a position quickly at a reasonable price. This can occur, for example, when the market for a particular digital asset suddenly drops, or if trading is halted due to recent news events, unusual trading activity, or changes in the underlying digital asset system. In the event an exchange venue has limited liquidity, there will also be limited liquidity to trade investor assets. The greater the volatility of a particular digital asset, the greater the likelihood that problems may be encountered in executing a transaction.

Clients of Eaglebrook Advisors custody their assets with Gemini Custody, a New York Trust Company and qualified custodian licensed by the New York State Department of Financial Services. At present, all trading of an investor’s digital assets will be executed by only one exchange venue, currently Gemini. In the event that an investor’s digital asset custodian and exchange ceases operations, the investor will be required to transfer their digital assets to another custodian and doing so will cause delays in the ability to trade, liquidate or access their digital assets.

Digital assets are vulnerable to attacks on the security, integrity or operation, including attacks using computing power sufficient to overwhelm the normal operation of the digital asset’s blockchain or other underlying technology. In addition to normal market risks, investors may experience losses due to one or more of the following: system failures, hardware failures, software failures, network connectivity disruptions, and data corruption. There is no guarantee for continuous availability of quotes or trading for digital assets.

Eaglebrook Advisors and the exchange venues that trade digital assets also rely heavily on computer software, hardware and telecommunications infrastructure. These computer-based systems are vulnerable to disruption, delay or failure which can cause investors to lose access to the trading platform, delays or inability to receive quotes or may negatively impact all aspects of Eaglebrook Advisors service deliverables. As such, Eaglebrook Advisors’ systems and services are offered “As-Is”.