January Insights: A New era for Bitcoin and Digital Assets

Read time:
5 min
Published date:
February 15, 2024

Dear Friends,

On January 10, 2024, a historic milestone was achieved when the SEC approved nine new spot Bitcoin ETFs. This event marks a significant leap from the pioneering days of Bitcoin, aligning the anniversary of the genesis block with its entry into mainstream finance. The journey to this approval was nothing short of a blockbuster script, complete with unexpected twists and a touch of cyber-drama!

The true excitement lies in the potential influx of wealth this approval represents. With the U.S. wealth management sector managing an astonishing $48 trillion in assets, even a modest allocation towards Bitcoin ETFs could see a significant capital shift into the digital asset space in the years ahead.

Against the backdrop of a volatile month, the Fund delivered its first negative monthly return of -1.84%. We were once again pleased to see that the reward strategies delivered in line with expectations and contributed +1,7% to the monthly return.

In a significant milestone for the business we are pleased to inform you that we have appointed Gael Fund Services as the Fund’s independent fund administrator.

We invite you to read our full commentary here for a more detailed explanation of the market events and the Fund performance. We are grateful for your continued support.

Warm regards,

The MidSquare Team

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As we step into the promising year of 2024, we are excited to share with you our December commentary, encapsulating the latest strides and insights in the dynamic realm of digital assets. *Stablecoins: The Anchors in Digital Asset Volatility* December spotlighted the increasingly vital role of stablecoins in the digital asset ecosystem. *S&P's Stablecoin Stability Assessments: A New Benchmark* A groundbreaking development in December was the introduction of S&P Global Stablecoin Stability Assessment ratings. *The MidSquare Digital Frontiers Fund: A Reflection of Excellence* December concluded a remarkable year for crypto assets, with the MidSquare Digital Frontiers Fund achieving an impressive *9.06*% return in USD. *A Glimpse into the Future: Welcoming 2024 with Optimism and Prudence* As we embark on 2024, the crypto asset market, particularly bitcoin, is poised at a pivotal juncture. We invite you to delve into our full commentary for a deeper understanding of these developments and our strategic approach.

In the captivating realm of cryptocurrency, Bitcoin shines as a beacon of innovation, epitomizing a ground breaking economic model. Our latest monthly commentary delves into the phenomenon of the Bitcoin halving—an event that not only underscores Bitcoin's uniqueness but also offers a glimpse into its potential value over time.