Digital Assets Weekly: April 14th, 2020
Please see important disclosures at the bottom of this report
Readers Note: The crypto weekly newsletter was not published last Friday due to the Easter holiday and has been moved to today instead.
Portfolio Strategy
Crypto markets have seen price swings over past weeks, but despite the choppiness, markets have largely ended where we left them in prior weeks with Bitcoin sitting around $6,900 today.
Crypto Allocation: For this reason, our tactical crypto exposure recommendations haven’t changed since our last note, but we will provide investors more color on certain portfolio allocations this week.
Size Allocation: Higher beta small caps have picked up the pace lately, as we mentioned would happen during a broader market uptrend, but we still believe it’s best to keep a managed risk approach towards smaller names at this time to hedge against any potential market reversal.
Defensives/Cyclicals: We remain overweight defensives PoW assets vs. cyclical PoS assets this week but acknowledge we are incrementally warming up to cyclicals and may move to market weight if the recovery continues to play out.
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