Core Insights - The Bitwise/VettaFi 2026 Benchmark Survey indicates a significant shift in financial advisors' attitudes towards cryptocurrency, with increased participation and allocation strategies being reported [2][3] Survey Findings - 32% of advisors allocated to crypto in client accounts in the past year, up from 22% in 2024 [5] - 56% of advisors now own crypto in their personal portfolios, marking a rise in professional ownership [5] - 64% of portfolios with crypto exposure have allocations greater than 2%, an increase from 51% in 2024 [5] - 42% of advisors can now buy crypto in client accounts, more than double the access seen in 2023 [5] - Interest in stablecoins and tokenization is at 30%, followed by "digital gold" at 22% and AI-linked crypto at 19% [5] - 65% of advisors believe Bitcoin prices will be higher in 2026, with 62% confident in Ethereum and 57% in Solana [5] - 99% of advisors with crypto allocations plan to maintain or increase their exposure in 2026 [5] - Advisors show a preference for index funds (42%) over single-coin options for potential ETPs [5] - Most advisors are funding crypto positions by reallocating from equities (43%) or cash (35%) [5] - Crypto equity ETFs remain the top choice for advisors seeking crypto exposure in 2026 [5]

Core Viewpoint - CoinShares International Limited is preparing for its U.S. public listing and aims to leverage its institutional-grade research capabilities, crypto expertise, and active management to introduce innovative products in the U.S. market [1][2]. Group 1: Strategic Approach - The company plans to apply successful European strategies to the U.S. market, focusing on differentiated products rather than single-asset crypto ETPs, which have become commoditized [2][3]. - CoinShares has a history of product innovation, including launching the world's first bitcoin ETP in 2015, which has helped maintain strong margins [2]. Group 2: Product Development - Over the next 12-18 months, CoinShares aims to launch innovative products in three core categories: crypto equity exposure vehicles, thematic baskets targeting blockchain trends, and actively managed strategies combining crypto with other assets [5][6]. - The CoinShares Bitcoin Miners ETF (WGMI) has shown strong market demand, growing to over $250 million in assets under management with a management fee of 0.75%, indicating the potential for premium pricing and sustainable margins [4][6]. Group 3: Market Positioning - The company is streamlining its U.S. product lineup by discontinuing the CoinShares Bitcoin Futures Leveraged product to focus on higher-margin opportunities [7]. - CoinShares positions itself as a disciplined, high-value player in the U.S. public markets, aiming to create sustainable shareholder value through its differentiated expertise [8].

Market Overview - Gold, silver, and Bitcoin have shown strong year-to-date (YTD) returns of 42%, 52%, and 17% respectively, as the U.S. dollar weakens significantly [1] - Investors are increasingly seeking these alternatives as a stable store of value and protection against inflation [1] Investment Options - Investors have various choices in the gold, silver, and Bitcoin sectors, including physical holdings, digital tokens, and dedicated exchange-traded funds (ETFs) [2] - ETFs can simplify storage and security concerns for investors interested in these assets [2] Gold Exploration ETF: GOEX - The Global X Gold Explorers ETF (GOEX) tracks an index of gold exploration firms, with over half of its portfolio in Canadian companies [3] - GOEX has a dividend yield of 1.08% and an expense ratio of 0.65%, with assets under management totaling $101.13 million [4] - The ETF has shown impressive returns, nearly 90% YTD, despite not being a pure-play gold fund [5] Silver Mining ETF: AGMI - The Themes Silver Miners ETF (AGMI) focuses on silver mining companies and has a low expense ratio of 0.35% [6][7] - AGMI has returned nearly 105% YTD, although it has limited liquidity and a concentrated portfolio [8] Bitcoin Mining ETF: WGMI - The CoinShares Bitcoin Miners ETF (WGMI) is actively managed and focuses on companies generating significant revenue from Bitcoin mining [10] - WGMI has a higher expense ratio of 0.75% and has returned 103% YTD, with a concentrated portfolio of just 23 positions [12]