Invictus Capital: Weekly Wrap 12.03
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The uptrend for long-term bond yields (on rising inflation expectations) and the related slide in equity markets took a break this week, as the passage of Biden’s $1.9trn stimulus plan, combined with tame US inflation readings gave markets an excuse to be bullish. Risk-on sentiment was further fuelled by news that the European Central Bank would be accelerating the pace of intervention in the bond market with the aim of keeping long-term yields in check.
This newsflow drove global equity markets firmly up, with the rotation away from the growth stocks (mostly tech companies) towards value stocks accelerating. Gold also benefited as the assault from rising yields — which makes holding gold less attractive — slowed.
Crypto markets were similarly bullish, with Bitcoin spending the week slowly grinding towards the all-time high set in February and Ethereum temporarily narrowing the gap between the market leader early in the week on the announcement that EIP-1559 would be implemented July 2021 (EIP-1559 is a proposal to implement the burning of a portion of gas fees, and to eliminate the auctioning process for determining gas fees). The NFT hype also continued to accelerate, with the most notable story being the $69mln sale of a digital artwork by artist Beeple at a Christie’s auction. PayPal’s $200mln acquisition of crypto custody provider, Curv, was also confirmed after speculation in recent weeks. In a positive development for the Hyperion fund, Syntropy announced that the board would be joined by two prominent figures in US tech who would help drive adoption. Shaun Hakl has past senior roles at Verizon and is currently a director at Microsoft, while Roman Pacewicz was formerly the Chief Product Officer at AT&T.
On Friday, following the above period of analysis, Bitcoin prices were pointing down — likely driven by breaking news that US regulators would be investigating the world’s largest crypto exchange, Binance, for potentially offering illegal futures products to US citizens (in a likely related development, Thursday saw Binance announce the appointment of former US senator and ambassador to China Maxwell Baucus as a government relations adviser).
Indicators (05 March — 12 March)
- Invictus Margin Lending (IML): $1.20, +8.57% (weekly compound annualized rate)
- Invictus Gold Plus (IGP): $1.06, +1.24%
- Emerging Markets Solar (EMS): $1.22, +0.26%
- Crypto10 Hedged (C10): $5.62, +11.41%
- Crypto20 (C20): $2.99, +7.45%
- Invictus Bitcoin Alpha (IBA): $2.74, +13.28%
- Invictus Hyperion Fund (IHF): $0.238 (Updated Q4–20)
- BTC: $57,789.19, +19.18%
- ETH: $1,825.98, +18.69%
- GOLD: $1,722.77, +1.44%
- S&P500: 3,939.34, +4.53%
Reminder: ICAP Litepaper
Last week the litepaper for ICAP was released! The ICAP token, launched December 2020, promises to provide Invictus investors who lock-up their fund tokens with additional investment returns. 10% of all Invictus fund fee revenues are used to buy-and-burn ICAP each month, with the token already appreciating over 150%.
Read about the details, and learn how to stake in the litepaper here.
The Invictus OTC Desk is Live!
Invictus Capital is now offering an Over the Counter (OTC) desk to make swapping tokens between Invictus funds that much easier.
This new feature allows investors to trade Invictus tokens directly without the need for a third-party, translating to significant savings on gas fees. By using the OTC desk, users can directly interact with Invictus to facilitate specific transaction prices and details — allowing investors to exit one fund and enter into another fund seamlessly within hours.
Read more about how it works here.
Other News & Links
- Invictus in the Press / News
1. Blockchain News:
- What Gives C10 (Crypto10 Hedged) So Much Value?
- Earn Additional Yield on Your Crypto20 Investment
2. UNLOCK Blockchain: Invictus Capital unveils ICAP token staking program
3. C10's NAV has seen an impressive increase of 376.31% over the past year! Check out the chart below. In the past week, the fund value reached over $10M, up over $3M since the start of 2021.
4. Invictus was featured in an article on Engadget, about non-fungible tokens.
5. Invictus YouTube coverage [Kripto Emre]
- Beeple’s $69 million NFT sale marks a potentially transformative moment for the art world
- PayPal Confirms It’s Buying Crypto Security Firm Curv
- OVEX in the Press
- Crypto arbitrage is the hottest ticket in town
- How companies can secure crypto for balance sheet or operational use
- ECB speeds up emergency bond purchases, Bund yields drop
- Syntropy News
1. Expanding Builders Program by 15+ Projects to Fuel Ecosystem Build-Out
2. NOIA Token Release Schedule for 2021
3. Executives from Tech Giants Join Syntropy to Scale Global Adoption
- Binance Investigated by US Authorities Over US Trading Activity
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