We are undoubtedly curious about crypto-currencies and monitor how this new asset class develops. At this point, we do not offer any portfolios that include cryptos. However, based on the latest developments, here is what we are waiting for:
Regulation of trading venues: The crypto markets still seem highly intransparent. We are concerned about missing regulation and the possibility of pump & dump schemes.
Insufficient data. So far, we might not have seen enough data to understand the investment cycles of crypto-currencies. It might be that all we have seen is a single bull run. So, without a better understanding, we cannot develop strategies yet that survive the test of time.
Availability of assets. We want to include cryptos in our portfolios as an additional asset class and traded at the same venues as stocks and ETFs.
Update February 2024: The SEC approved several Bitcoin ETFs in January 2024. This is a big step forward, and our article Crypto ETPs in 2024 gives an overview of what this new asset class has to offer and how it would be suitable as a portfolio component.
We will continue our research of integrating this asset class into our portfolios. Stay tuned!