From direct to indirect exposure, more parties are looking for ways to invest in cryptocurrencies. Others are getting involved by investing in crypto-focused start-ups. For example, Andreessen Horowitz, 10T Holding, and Alameda Research were among the top investors in Helium’s latest funding round that raised more than 100 million.
More than Helium, PayPal’s Venmo now allows its users to invest in crypto by using their monthly cash backs. The payment app calls it a cashback to crypto functionality.
While Venmo whets undecided crypto investors’ appetite, notable firms are already dipping their toes into the cryptocurrency ecosystem.
Asset Manager with $400 in AUM Adds BTC and ETH Exposure
Neuberger, an asset management firm with $400 billion in assets under management (AUM), is offering BTC and ETH exposure. However, the firm is focused on derivatives. According to its latest filing, Neuberger said that “the investment strategy [allows] actively managed exposure to cryptocurrency investment” through derivatives such as #BTC and #ETH futures.
The filing further noted that the firm is looking to offer indirect exposure to crypto through exchange-traded funds and trusts. Additionally, the filing with the United States Securities and Exchange Commission (#SEC) highlighted that the asset manager, through an alternative fund, “may seek to gain investment exposure to cryptocurrencies and digital assets.”
Notably, the decision to formally offer exposure to cryptocurrency comes almost five months after publishing a post titled “the Bitcoin Experiment” in March.
The blog post noted that developments in the Bitcoin ecosystem are “worth watching closely.” Also, the multi-billion asset manager said that investing in crypto deviates from “a standard asset allocation.”
In this post, Neuberger observed that the leading cryptocurrency is “capturing the imagination of investors” worldwide. Notably, this article was authored by top executives in the firm’s key departments, such as the private wealth management, quantitative and multi-asset class.
AMC Entertainment Adds Bitcoin
Instead of directly investing in Bitcoin, AMC Entertainment officially announced that it would be accepting Bitcoin payments before the year ends. AMC’s CEO, Adam Aron, said that the decision was made after extensive research.
In a statement, Aron said that his “increased knowledge” in virtual currencies had given him “the confidence,” and before the year ends, his company “will have the information technology systems in place to accept Bitcoin.”
He added that accepting BTC will be one of his company’s investments and involvement in the cryptocurrency industry.
Titan, an investment adviser based in the United States, enables investors in the US to access cryptocurrencies like ETH and BTC. Through a new offering christened Titan Crypto, the firm is targeting to invest in virtual currencies.
In an announcement, the firm said the offering would accommodate investors “with no previous knowledge or understanding of cryptocurrencies.”
According to Titan, #cryptocurrency has passed the point of whether it “deserves a place in portfolios.” Instead, the right question should be “what percentage” of a portfolio should an investor commit to crypto.
Titan Crypto comes just days after Will Smith, Jared Leto, Odell Beckham Jr, and others invested more than $55 million during the firm’s Series B funding round in July 2021.