There are many mainstream investors positioning themselves to invest in digital coins. In a recent report from a team that includes equity research analyst Matthew Lipton and trading technologies principal Lee Saba one of them is Boston-based Wellington Management Co.
The firm with $1 trillion under management is considering including cryptocurrencies in some portfolios. The company’s systems were upgraded to enable trading in Bitcoin derivatives, and Wellington has started taking positions in companies related to cryptocurrencies.
“Various Wellington teams are already positioning portfolios to take advantage of mining and blockchain implementations by, for example, investing in select chipmakers making components”
Shares in Taiwan Semiconductor Manufacturing Co., which manufactures chips for Nvidia Corp. and Advanced Micro Devices Inc., have climbed 34 percent since the beginning of 2017 and surged to a record in January. Nvidia more than doubled in the period. Demand for the high-powered chips used in crypto mining comes at a welcome time for TSMC amid waning smartphone sales in China.
Wellington is keen to stress that, for now, it’s not snapping up direct exposures in Bitcoin and related currencies, dubbing its official stance as “cautious.” As the firm’s analysts dig deeper into digital tokens, they plan to say more on the outlook in the near future.
You can read the full report here – https://www.wellington.com/en/insights/cryptoassets-blockchain-investors-guide/