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Tom Lee and Fundstrat: Crypto Indices and Performance

Global Risk Rally, Crypto Gains - Tom Lee, Fundstrat Global Advisors

Over the past 7 days, the FS CryptoFX Agg Index increased by 10.5%, compared with a 0.9% increase for the S&P 500 (Slide 6). The best performing sector index was FS CryptoFX Privacy, which was up 16.2%. The worst performing sector index was FS CryptoFX Stable Coin, which was down 0.4%.

CME Group launches Bitcoin options
On January 13th, CME Group launched options on its regulated Bitcoin futures product. Options were introduced in response to sustained investor demand for additional BTC investment vehicles that give investors greater flexibility in managing BTC exposure. Options continue the trend of improved price transparency and maturing market structure for the BTC ecosystem, both positive factors for BTC’s development into a mainstream financial asset.

NBA player launches security token
Spencer Dinwiddie of the Brooklyn Nets is looking to raise $13.5MM by tokenizing the first year of his 3 year, $34.5MM contract on the Ethereum blockchain. The offering, which began today, January 13th, was filed under the SEC’s Reg D., thus limiting the sale of the tokens to accredited investors.  Tokens will pay 4.95% base interest on a monthly basis with the full principal due in 3 years.

While this token offering is limited in size and scope, it could be a catalyst for further developments in the tokenized securities market which has, up to this point, fallen far short of expectations.



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