Developments at DAIM
On the 29th we were notified that your digital assets under our management that are in cold storage will be insured by Lloyds of London. This is great news that we see further maturing the space. Email me for the terms and policy. This month we improved our processes and were able to eliminate 3% in fees. We will continue to work on best execution and fees. During September I plan on becoming vocal in the industry to address the way exchanges operate and handle listing coins.
Digital Asset Space
August began with BTC at $7700 and closed $7000. Morgan Stanley appointed a head of digital assets. Northern Trust began working with digital asset associations to contribute to the development of policy and regulatory frameworks. ICE, which owns the NYSE, announced the Bakkt platform in collaboration with Microsoft to help bring bitcoin payments to Starbucks. I see this story taking over the CBOE etf, which will have a decision on or before Sept 30th. New Yale research says every portfolio should hold between 1% and 6% of Bitcoin, story by Aleh Tsyvinski. In an effort to make markets more resistant to manipulation, the Winklevoss' Gemini teamed up with 3 other exchanges (Bittrex, bitFlyer, Bitstamp) to form a self-regulatory organization (SRO) called the Virtual Commodity Association Working Group. I foresee that after some time of this SRO being in place, it will be the check in the box the SEC is looking for to approve a bitcoin ETF. This SRO is a big step for the industry. Any referrals you make will positively affect the growth of this practice. We greatly appreciate being able to serve you!
*This is not investment advice. Please contact us before investing email@example.com
Digital Asset Investment Management is a licensed Registered Investment Adviser specializing in Bitcoin for 401k's, IRA's and Traditional Brokerage accounts. Learn more at www.daim.io