This morning, I will be joining The President of Kyrgyzstan🇰🇬 Sadyr Japarov on the 2nd in person meeting of the National Council on Blockchain and Cryptocurrencies.A number of impressive progress have been made since my first visit to the beautiful country in May.Crypto 2.0 ...

Core Insights - The article emphasizes the importance of building robust and diversified investment portfolios to preserve and increase wealth over time [1]. Group 1: Company Overview - The Pragmatic Investor is designed to guide investors of all levels, covering global macro, international equities, commodities, tech, and cryptocurrencies [1]. - The platform offers features such as a portfolio, weekly market updates, actionable trades, technical analysis, and a chat room for investor engagement [1]. Group 2: Analyst Background - James Foord, an economist with a decade of experience in analyzing global markets, leads The Pragmatic Investor [1].

Core Insights - The article emphasizes the importance of conducting thorough due diligence before making any financial decisions, particularly in the context of investments and trading activities [1] Group 1 - The content includes general news and personal analysis intended for educational and research purposes [1] - It highlights that the information provided does not constitute any recommendation or advice for investment actions [1] - The article warns that the information may not be accurate or provided in real-time, and prices may be sourced from market makers rather than exchanges [1] Group 2 - The website discusses complex financial instruments such as cryptocurrencies and contracts for difference (CFDs), which carry a high risk of losing money [1] - It encourages users to perform their own research and understand the risks involved before investing in any financial instruments [1] - The article mentions that FX Empire does not endorse any third-party services and is not liable for any losses incurred from using the information provided [1]

Core Insights - The article discusses the importance of due diligence and personal discretion in financial decision-making, emphasizing that the information provided is for educational and research purposes only [1] Group 1 - The content includes general news, personal analysis, and third-party contributions intended for educational purposes [1] - It highlights that the information is not tailored to individual financial situations or needs [1] - The article warns that prices may not be accurate and are often provided by market makers rather than exchanges [1] Group 2 - The website includes information about complex financial instruments such as cryptocurrencies and CFDs, which carry a high risk of loss [1] - It encourages thorough research before making investment decisions and advises against investing in instruments that are not fully understood [1] - The article states that FX Empire does not endorse third-party services and is not liable for any losses incurred from using the information provided [1]

Core Insights - The content emphasizes the importance of conducting personal due diligence before making any financial decisions [1] Group 1 - The website provides general news, personal analysis, and third-party content intended for educational and research purposes [1] - It explicitly states that the information does not constitute any recommendation or advice for investment actions [1] - Users are encouraged to consult competent advisors and consider their financial situation before making decisions [1] Group 2 - The website includes information about complex financial instruments such as cryptocurrencies and contracts for difference (CFDs), which carry a high risk of losing money [1] - It advises users to carefully consider their understanding of these instruments and their ability to afford potential losses [1] - The content warns that reliance on the information provided may lead to trading losses, and the website does not assume responsibility for such losses [1]

Core Insights - The article discusses the importance of due diligence and personal discretion in making financial decisions, emphasizing that the information provided is for educational and research purposes only [1] Group 1 - The content includes general news, personal analysis, and opinions intended for educational purposes [1] - It highlights that the information is not a recommendation or advice for any financial action [1] - The website does not take into account individual financial situations or needs [1] Group 2 - The article mentions that the information may not be real-time or accurate, and prices may be provided by market makers [1] - It states that any trading or financial decision made is the full responsibility of the individual [1] - The website may include advertisements and promotional content, with potential compensation from third parties [1]

Core Viewpoint - The content emphasizes the importance of conducting personal due diligence and consulting competent advisors before making any financial decisions, particularly in the context of investments and trading [1]. Group 1 - The website provides general news, personal analysis, and third-party content intended for educational and research purposes [1]. - It explicitly states that the information should not be interpreted as recommendations or advice for investment actions [1]. - The content is not tailored to individual financial situations or needs, highlighting the necessity for users to apply their own discretion [1]. Group 2 - The website includes information about complex financial instruments such as cryptocurrencies and contracts for difference (CFDs), which carry a high risk of losing money [1]. - Users are encouraged to perform their own research and understand the risks involved before investing in any financial instruments [1].

Core Insights - The introduction of crypto ETFs has allowed investors to access crypto assets through traditional brokerage and retirement accounts, presenting a long-term return potential despite inherent volatility [1] - Recent market events, including a $19 billion leveraged wipeout in Bitcoin, highlight the extreme volatility associated with cryptocurrencies [1] Group 1: Crypto ETFs Overview - The new wave of crypto ETFs aims to provide investors with products that mitigate extreme volatility while still offering exposure to potential upside [2] - These ETFs come with higher fees and employ active management strategies to capitalize on the volatility of cryptocurrencies [2] Group 2: Income Potential of Crypto ETFs - Crypto income ETFs may appeal to cautious investors seeking income alongside exposure to cryptocurrencies, but total returns may not be impressive [3] - While crypto income ETFs can generate income through futures trading, they do not hold the underlying crypto assets directly [4] Group 3: Performance Analysis - The ProShares Bitcoin ETF (BITO) has reported a high dividend yield of over 50% annualized, but its total return is underwhelming with a nearly 20% decline year-to-date [5][6] - Despite Bitcoin's price increase of over 20%, BITO has shown only modest gains, leading to potential capital losses for investors who sell shares [6] Group 4: Market Dynamics - The use of futures in ETFs introduces a time premium that can decay, leading to significant losses during sideways markets or crypto downturns [7]

Core Viewpoint - T. Rowe Price Group Inc. is set to launch its first cryptocurrency fund, marking a significant shift for the firm, which primarily focuses on traditional stocks and bonds [1] Company Developments - The new actively managed exchange-traded fund (ETF) will invest in a diversified basket of commodity crypto assets, aiming to outperform the FTSE Crypto US Listed Index, which includes the top ten crypto assets by market capitalization [1] - T. Rowe Price has developed end-to-end capabilities to trade digital assets and is currently awaiting regulatory approval for the new fund [3] - The firm oversees $1.8 trillion in assets and is seeking to attract more investments following challenges with client redemptions from its actively managed stock and bond funds [3] Industry Context - Digital assets have generated significant revenue for major fund managers, with BlackRock's spot-Bitcoin ETF amassing approximately $90 billion in client assets and Fidelity's Bitcoin ETF holding about $23 billion [2] - The support for cryptocurrencies from influential figures, such as former President Donald Trump, has encouraged more financial firms to enter the cryptocurrency market [2] - CME Group Inc. announced plans to enable round-the-clock trading of cryptocurrency futures and options starting early next year, indicating a growing acceptance of digital assets in traditional finance [2] Strategic Moves - T. Rowe Price has been expanding into other asset classes, including the acquisition of private credit firm Oak Hill Advisors in 2021 and a partnership with Goldman Sachs Group Inc. to offer private-market products to retail investors [4]

Core Insights - The article emphasizes the importance of conducting thorough due diligence before making any financial decisions, particularly in the context of investments and trading activities [1] Group 1 - The content includes general news and publications, personal analysis, and opinions intended for educational and research purposes [1] - It highlights that the information provided does not constitute any recommendation or advice for investment actions [1] - The article warns that the information may not be accurate or provided in real-time, and prices may be sourced from market makers rather than exchanges [1] Group 2 - The website discusses complex financial instruments such as cryptocurrencies and contracts for difference (CFDs), which carry a high risk of losing money [1] - It encourages users to perform their own research and understand the risks involved before investing in any financial instruments [1] - The article states that FX Empire does not endorse any third-party services and is not liable for any losses incurred from using the information provided [1]