August 28 – September 3, 2019 | Andreessen Horowitz, Bitcoin During Currency Turmoil & More Crypto News

3iQ Research Group consolidates the top five cryptoasset stories of interest
to investment advisors and our investors.


Andreessen Horowitz Hosts “Unusual” Meeting With US Regulators

September 1 – Andreessen Horowitz, a VC firm known for its early investments in Facebook, recently stood up for cryptocurrencies in front of government officials in Washington. Back in May, the firm hosted an event which included officials from the Department of Treasury, the US Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and other cryptocurrency-related companies from the company’s portfolio. According to the Wall Street Journal, an assembly including this high number of federal government agencies is “unusual”, granted that these agencies rarely meet in both private or public conferences. While government agencies expressed caution at the event, Andreessen Horowitz made an effort to challenge misunderstandings and educate regulators who oversee the crypto sector in the United States.

Read the full article from the Wall Street Journal here.


Ex-Goldman Sachs Executive Suggests Investors Buy Bitcoin During Currency Turmoil

September 1 – According to Raoul Pal, an economist and the former head of hedge fund sales for Goldman Sachs, bitcoin could be a worthwhile hedge and notable candidate for future financial systems that are not fiat-based. Through a series of Twitter posts and charts, Pal expressed caution that the Fed Trade Weighted Dollar Index breaking higher “could mean something big” is on the horizon. Pal also charted EU banks, suggesting that a “breakdown” could coincide with the dollar’s upwards move. He also suggests that 2-year bond yields could fall potentially as low as -4% in the US. “Frankly, I don’t care what the snarks think. This is a reality. Maybe it is THE reality. Bonds. Dollars. Gold. Bitcoin”.

Read the full Twitter thread here.

Read the full article from News BTC here.


56% of the World’s Top 50 Universities Have Crypto or Blockchain Classes

August 28 – According to a study conducted by the cryptocurrency exchange and custody provider Coinbase, around 56% of the top 50 universities around the world are currently offering crypto and blockchain courses. Back in 2018, Coinbase found that just 42% were offering such courses. The growth in courses offered also coincided with an increase in student interest. Student clubs were a major driver, as 41 of the 50 universities had student clubs relating to crypto or blockchain. Interestingly, most crypto and blockchain courses did not fall under the label of computer science, but rather finance, economics, law and engineering.

Read the full article from Coindesk here.


Almost 10% of India’s High-Net Worth Individuals Want to Increase Allocation to Cryptocurrencies

August 31 – India’s high-net worth individuals are looking to increase their allocation to cryptocurrencies as there are growing concerns about an economic slowdown that could come soon to the country. According to reports from Quartz, around 36% of high-net worth individuals in India are pessimistic about the economy over the next three years. Wealthy investors are looking to allocate to more risk-off assets, such as real estate and art. Around 9% of high-net worth individuals in India are looking to increase allocations to cryptocurrencies such as bitcoin or ether; however, nearly half of the respondents said they didn’t know enough about cryptocurrencies to say. Cryptocurrencies ranked fourth in the list of top asset classes to grow in the next three years during a potential economic slowdown. The data was sourced from the Hurun Report, which is a research, media and investments business famous for its wealthy individuals lists.

Read the full article from The Block Crypto here.


Bakkt’s Physically Settled Bitcoin Futures Prepare to Launch September 23, 2019

August 28 – Bakkt, a subsidiary of the Intercontinental Exchange (ICE), recently announced through Twitter that its warehouse will begin to store bitcoin on behalf of its clients on September 6, paving the way for its physically settled daily and monthly bitcoin futures to launch on September 23. While the Chicago Board Options Exchange (CBOE) and CME group had already launched bitcoin futures in the past, the contracts were settled in cash and not physical bitcoin. The movement of real bitcoin between institutional players could help spur demand for bitcoin after the contracts launch on Bakkt’s platform. “Bakkt could be a huge catalyst for institutional participation in the crypto market,” said Fundstrat’s quant strategist Sam Doctor.

Read the full article from CCN here.


3iQ Bitcoin Trust (Class A) : NAV as at August 30, 2019

Underlying cryptoasset prices sourced from Bloomberg.


3iQ Global Cryptoasset Fund (Class A): NAV as at August 30, 2019

Underlying cryptoasset prices sourced from Bloomberg.View charts and more fund data at https://www.theglobeandmail.com/investing/markets/funds/TIQ101.CF/performance/

3iQ Corp. (“3iQ”) is the first Canadian investment fund manager to agree to terms and conditions with the Canadian securities regulatory authorities which permit 3iQ to manage a multi-cryptoasset investment fund available to Canadian accredited investors. 3iQ provides accredited investors with exposure to bitcoin, ether, and litecoin through its 3iQ Global Cryptoasset Fund.

Accredited Investors: Invest Here


SUBSCRIBE TO OUR WEEKLY UPDATE

Disclosure
This Weekly Cryptoasset Newsletter is for informational purposes only and does not constitute, either explicitly or implicitly, any provision of services or products by 3iQ Corp (“3iQ”). Investors should determine for themselves whether a particular service or product is suitable for their investment needs or should seek such professional advice for their particular situation.3iQ Corp. makes no representation or warranty to any investor regarding the legality of any investment, the income or tax consequences, or the suitability of an investment for such investor. All content is original and has been researched and produced by 3iQ unless otherwise stated therein. No part of the content may be reproduced in any form, or referred to in any other publication, without the express written permission of 3iQ. All statements made regarding companies, securities or other financial information contained in the content or articles relating to 3iQ are strictly beliefs and points of view held by 3iQ and are not endorsements of any company or security or recommendations to buy or sell any security. No securities regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise. By visiting and/or otherwise using the 3iQ website in any way, you indicate that you understand and accept the terms of use as set forth on the website and agree to be bound by them. If you do not agree to the terms of use of the website, please do no access the website or any pages thereof. Any descriptions of, references to, or links to other products, publications or services does not constitute an endorsement, authorization, sponsorship by or affiliation with 3iQ with respect to any linked site or its sponsor, unless expressly stated by 3iQ. Any such information, products or sites have not necessarily been reviewed by 3iQ and are provided or maintained by third parties over whom 3iQ exercises no control. 3iQ expressly disclaims any responsibility for the content, the accuracy of the information, and/or quality of products or services provided by or advertised on these third-party sites. The information contained herein, while obtained from sources believed to be reliable, is not guaranteed as to its accuracy or completeness and confers no right on purchasers. Past performance of cryptoassets is not indicative of future performance and should not be used to forecast any return that an investor may realize.

2019-09-04T19:29:41-04:00 September 3rd, 2019|