Bitcoin: Most resilient and investors’ favourite cryptocurrency
Despite a difficult half of 2022 for all cryptocurrencies, a recent study found that Bitcoin is that the most resilient and investor’s favorite among all. HANetf revealed its ‘Digital Assets and Crypto Review’ for the primary half 2022. seventy fifth of seventy five fund managers surveyed across Europe aforementioned they planned to expand their exposure to cryptocurrency within the next twelve months. Hector McNeil, co-chief military officer and co-founder of HANetf, said: “Investors ar more and more fascinated by cryptocurrencies, despite the particularly volatile begin to the current year”. This year was turbulent for cryptocurrencies, and also the worst performance in H1 2022 came from two-dimensional figure with -82.61% returns, followed by Solana with a come of -81.41%. Despite market volatility, Bitcoin saw returns of -76.85%, playacting the most effective among its counterparts. The world’s oldest cryptocurrency continues to heap losses to investors, however it’s “proved the foremost resilient”.
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Bitcoin is that the most well-liked coin among investors, “Investors like the world’s oldest cryptocurrency in times of stress,” aforesaid book Bailey, head of ETF analysis and HANetf. Out of seventy five wealth managers, 57.90% expressed a positive read towards Bitcoin, whereas 27.60% expressed an equivalent thoughts for Solana. knowledge showed that Bitcoin continuing positive inflows within the half of 2022. Following fluctuations within the early months of 2022, by June, flow knowledge had turned positive once more. The study more found that forty third of wealth managers saw cryptocurrencies as closely associated with the gold quality category. thirty third saw that technical school stocks ar the nearest quality category to cryptocurrencies.
However, 4% saw cryptocurrency as the standalone asset class. “Cryptocurrencies are not an asset class. It would be dangerous for the ETF world to take up the cudgel and suddenly start trying to provide access”, remarked Mark Northway, Sparrows Capital’s investment manager, at a recent Funds Europe roundtable. Over the next five years, 29% of wealth managers anticipated the UK would have the most accommodating regulatory environment around digital assets in Europe, Followed by Switzerland and Germany, 20% and 19%, respectively.