Summary The introduction of Bitcoin spot ETFs on Jan. 11 added a new class of products for investors looking for exposure to Bitcoin. We recommend that holders of existing Bitcoin ETFs (GBTC and BITO) consider selling their positions. Most investors should move to iShares or Fidelity ETFs, with Bitwise also being a reasonable alternative. Bitcoin ETFs Read More
Category: View from Crystal Bay
View from Crystal Bay: The Ballad of Kumtor Gold
Central Asia is the region between the Caspian Sea and China, bounded in the north by Russian Siberia and in the south by Iran and Afghanistan. In the old days, it was known under the names of Transoxiana or Western Turkestan. It was inhabited both by nomadic herders who roamed the steppes and by urban Read More
View from Crystal Bay: Taking on Inflation, Then and Now
The scepter of inflation is haunting the land. It remains to be seen whether it’s only Casper the Ghost, good for scaring small children, or whether we’re dealing with a full blown Poltergeist. We will have our answer soon enough. But it’s not too early to ask ourselves what should we do if relevant authorities Read More
View From Crystal Bay: The Death of US Single Stock Futures
The coronavirus pandemic finished off floor trading at venerable institutions like the CME, CBOE, and the LME. I wrote about this topic recently. There was another venue that quietly shut down last year. OneChicago, the US platform for trading single stock futures, closed its doors on September 18, 2020. Single stock futures are a wonderful Read More
View From Crystal Bay: Too Late or Just in Time
After a heady nine months in the commodities space, investors are starting to ask whether the boom is over. Have we missed it? Is there still time to jump on the bandwagon? Fear not, we haven’t even started yet. A quick look at the chart of the Bloomberg Commodity Index puts the recent past into Read More