Jan 22 (Reuters) – As geopolitical tensions soar and government debt loads rise in many nations, digital assets investment firm Bitwise and Proficio Capital Partners, a division of a Florida-based multi-family office, are rolling out an exchange-traded fund designed to invest in alternatives to the dollar and other currencies, ranging from gold to bitcoin.
Sign up here.
“I believe you have to view these as representing their own asset class,” one that is distinct from stocks or bonds denominated in dollars or other government-issued currencies, said Bob Haber, chief investment officer and a founder of Proficio. “And when you’re not really being compensated for the risk of owning government bonds or assets denominated in dollars, euro or whatever, it makes sense to look for alternatives.”
In addition to gold and bitcoin, the ETF will offer exposure to silver, platinum and palladium, as well as the mining companies that produce these and other metals.
Even if gold and silver prices pause their rally, Haber said he expects a growing number of investors to demonstrate interest in owning what he refers to as “hard currencies.”
“This is a long-term secular shift in the market,” he said.
Suzanne McGee in Providence, Rhode Island; Editing by Chris Reese
Our Standards: The Thomson Reuters Trust Principles.
