tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Friday, July 10th, 9:53AM

News

rss
Latest Headlines

Crypto 'next asset class'

A United States investment manager says cryptocurrencies are set to become the first new asset class since the 1600s.

Tuesday, September 11th 2018, 6:00AM

by Susan Edmunds

Catherine Wood

Catherine Wood, chief executive of Ark Invest, said crypto assets could become part of the corporate capital structure.

Ark has partnered with Niko to launch a Global Disruptive Innovation Fund.

“Bonds are based on fixed assets, equities are claims on excess cashflow derived from those assets. Crypto assets will be structured based on the capacity utilisation of those assets,” she said.

Wood said she had wondered why digital assets such as storage, computing power and bandwidth had not been traded when they were as valuable to people as copper or oil. “The reason is we’ve not been able to do this. Now with blockchain technology, we’re going to be able to.”

That would lead to new products being built up around digital assets, she said. “In the say way we have REITs around real estate we’ll have products built around digital assets. Before this digital ecosystem evolved there was no way to do this.”

She said Bitcoin had the best shot at becoming the global digital currency, or the reserve currency.

The dramatic fall in the value of cryptocurrencies had been less tough on Bitcoin than it had on others, she said. That flight to safety had increased Bitcoin’s share of the crypto asset eco system from low 30% to high 50%.

Bitcoin fell from US$20,000 to less than US$6500. Ethereum dropped from US$1368 to US$196.

“That’s a clue to us that Bitcoin will be the reserve asset of the crypto asset eco system.”

She said investors should have some exposure.

An Ark analyst had discovered that Bitcoin’s transaction volume was now bigger than PayPal, with an average transaction size of $30,000.

It was being used in places where it was difficult to do cross-border business-to-business transactions, she said, and where people wanted to sent remittances back to their families. “There’s a huge unmet need in international markets.”

Tags: cryptocurrency Nikko AM

« Former Generate man taps into new service for advisersWho has Faafoi been meeting? »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • Harking back to the old days
    “Really positive news. NZ has been blessed by many successful leaders and it is good that their skills can skill be utilised...”
    2 hours ago by Francis L
  • Harking back to the old days
    “I dare say Cigna just got that extra grunt it's been looking for....”
    3 hours ago by Matron
  • Greens want ACC extended to cover sickness
    “The Greens have no idea The purpose of the Woodhouse report was to remove the "at fault" component of accidents Sickness...”
    20 hours ago by LNF
  • Commission disclosure: What's material?
    “The consumer should know that there is at times large amounts of comission involved but it has to be balanced with not confusing...”
    24 hours ago by Good Hamish
  • Commission disclosure: What's material?
    “There should be no place for a subjective materiality test in the disclosure regulations, especially where is is the party...”
    1 day ago by Paul Flood
Subscribe Now

Weekly Wrap

Previous News
Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 3.19 3.19 3.49
AIA Special - 2.69 2.69 2.99
ANZ 4.44 3.15 3.25 ▼3.39
ANZ Special - ▼2.55 ▼2.69 ▼2.79
ASB Bank 4.45 3.19 3.19 3.49
ASB Bank Special - 2.69 2.69 2.99
Bluestone 4.44 4.44 4.44 4.44
BNZ - Classic - 2.65 2.69 2.99
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.25 3.29 3.59
Lender Flt 1yr 2yr 3yr
BNZ - TotalMoney 4.55 - - -
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 4.75 4.75 -
Credit Union South 5.65 4.75 4.75 -
First Credit Union Special 5.85 3.35 3.85 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online - - - -
Heretaunga Building Society 4.99 4.35 4.45 -
HSBC Premier 4.49 2.60 2.65 2.80
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 3.99 2.58 2.68 2.79
Kainga Ora 4.43 3.29 3.39 3.85
Kiwibank 3.40 3.40 3.54 4.00
Kiwibank - Capped - - - -
Kiwibank - Offset - - - -
Kiwibank Special 3.40 2.65 2.79 3.25
Liberty 5.69 - - -
Nelson Building Society 4.95 3.45 3.49 -
Pepper Essential 4.79 - - -
Lender Flt 1yr 2yr 3yr
Resimac 3.49 3.45 3.39 3.69
SBS Bank 4.54 3.29 3.19 3.49
SBS Bank Special - 2.79 2.69 2.99
The Co-operative Bank - Owner Occ 4.40 ▼2.69 ▼2.75 ▼2.99
The Co-operative Bank - Standard 4.40 ▼3.19 ▼3.25 ▼3.49
TSB Bank 5.34 ▼3.35 3.49 3.79
TSB Special 4.54 ▼2.55 2.69 2.99
Wairarapa Building Society 4.99 3.75 3.99 -
Westpac 4.59 4.15 4.09 4.49
Westpac - Offset 4.59 - - -
Westpac Special - ▼2.55 2.69 2.79
Median 4.55 3.19 3.22 3.39

Last updated: 10 July 2020 9:02am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com