George Milling-Stanley, chief gold strategist at State Street Global Advisors, believes bitcoin's recent surge may be giving investors a false sense of security. "In simple terms, bitcoin is an investment seeking a return, which suggests investors are piling into bitcoin for capital gains, not because they see value or use for it," says Mr. Milling-Stanley. The launch last week of options based on spot bitcoin ETFs, which allow investors to put in less cash, may have something to do with this.
George Milling-Stanley, head of gold strategy at State Street, warned that bitcoin's rise could mislead investors into ignoring the stability of gold, arguing that bitcoin is more like a return-driven investment, while gold provides long-term stability. He also criticised bitcoin promoters for misleading the market by using the term "mining", arguing that gold remains a more reliable investment option.
In an interview with Financial News, Donna Milrod, chief product officer at State Street, said the bank was working on tokenising bonds and money market funds but had no plans to create stablecoins or tokenised deposits. However, Ms Milrod said: "It doesn't mean we won't do it in the future, it's just that we don't feel the need to do it now."
State Street Global Advisors, the asset management business of the State Street Group (NYSE: STT), today announced the launch of three actively managed digital asset and disruptive technology focused ETFs, advised by Galaxy Asset Management, an affiliate of Galaxy Digital Holdings Ltd. (TSX: GLXY) and the world's largest digital asset and blockchain exchange.
State Street is a global custodian bank with $44.30 trillion of assets under management. In response to the more relaxed regulatory environments in the United States, State Street chose cryptocurrency custodian and tokenization company Taurus to provide digital assets.
State Street believes there could be a "short-term negative reaction" to the dollar if Biden pulls out of the US Presidential Election and traders cut back on trading related to Donald Trump's victory. Noel Dixon, a macro strategist at State Street, believes Biden's exit will make competition more intense and cause market volatility. "It's basically a Trump win now". The "Trump trade" has investors betting that his economic policies will only reignite inflation, thus...
21:00-7:00 Keywords: State Street, Germany, Ethereum ETF, Trump 1. State Street is exploring the creation of a stablecoin. 2. grey release of a new decentralized artificial intelligence fund; 3. The US SEC approved the grey release of the spot Ethereum mini ETF 19b-4 document; 4. German law enforcement sold nearly 50,000 BTC for more than $2.80 billion; 5. SEC Commissioner: The staking function of the Ethereum ETF may need to be reconsidered. 6. The Democratic Party of the United States plans to...
Michael Metcalfe, head of macro strategy at State Street Global Markets, said that if Trump were elected to a second term, the risk of inflation caused by his policies would be greater than in the first term. Inflation has been low in 2016 and inflation expectations are low... 2024, 2025 will be very different. Inflation is higher, inflation expectations are higher, and we are still in this inflationary mindset. "This will not only affect the domestic...
State Street plans to raise its dividend by 10 per cent; Bank of America plans to raise its quarterly dividend from $0.24 to $0.26; Citi plans to raise its quarterly dividend from $0.53 to $0.56 per share; JPMorgan Chase plans to raise its quarterly dividend from $1.15 to $1.25 per share; Morgan Stanley plans to raise its quarterly dividend from $0.85 to $0.925 per share; Wells Fargo is expected to raise its third-quarter dividend to $0.40 per share. JPMorgan has authorized a new buyback program...
State Street Global Advisors and Galaxy Asset Management announced a partnership to launch a new generation of digital asset investment strategies designed to go beyond cryptocurrencies and open up new opportunities for investors. The partnership will combine the power of two industry leaders to provide investors with a manager-led strategy to directly participate in the $2.40 trillion digital asset ecosystem.