on
| View this email in your browser |
 |
| CHART OF THE DAY The TrueUSD circulating supply has nearly doubled since the beginning of the year. Inflows into TUSD have also increased as BUSD outflows continue to increase.  Source: Twitter – Valkyrie, March 2023DIGITAL ASSETSBitcoin options open interest rose in February to $9 billion. The sharp rise marks the largest 14-day rate of change in Bitcoin history, and is a record high as a percentage of market cap. The last time options open interest was this high, BTC was trading at $45,000. The price of bitcoin only moved 0.03% last month. February 2023 is now the least volatile month on record, according to Coinglass.BTC and ETH liquidations dropped considerably in February with a lack of price volatility. Source: Coinglass, March 2023Deribit aims to launch Bitcoin Volatility Futures at the end of March, offering investors an alternative to options for hedging against market volatility. The new product is tied to Deribit’s existing forward-looking bitcoin volatility index (DVOL).Coinbase CEO Brian Armstrong reiterated his stance that the exchange’s staking product is not a security, stating they are prepared to defend their position in court if necessary. Coinbase posted a $557 million loss and saw revenue tumble 75% in Q4 on muted trading volumes. Source: Bloomberg, March 2023WHAT TO KNOWHigh-grade corporate bonds have erased most of their early-year gains. Four weeks since the market’s peak on February 2nd, the global high-grade bond market has lost almost $327 billion in value. Source: Bloomberg, March 2023SubscribeUpcoming Opportunistic Fund WebinarJoin Valkyrie’s Opportunistic Fund portfolio team on Tuesday, Mar 21 at 2 PM as they discuss uncovering digital asset value in current markets.Register Here |
| Past performance is not indicative of future results. Investments may be speculative, illiquid and there is a risk of total loss. There is no guarantee that any specific outcome will be achieved. This is not an offer to buy or sell securities. We do not offer legal, tax or financial advice. Information is purported to be as of the time period provided therein. Charts/graphs are for illustrative purposes only.Cautionary Statement Concerning Forward-Looking Statements:This document contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this document and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this document and other statements made from time to time by us or our representatives might not occur.Valkyrie Investments, 320 Seven Springs Way, Suite 250, Brentwood, Tennessee 37027, United States |
