Crypto pushed into 2025 boldly. While multiple factors powered its surge, Donald Trump’s return to the White House underscored crypto’s growing grip on today’s zeitgeist, including his vow to make America the “crypto capital of the planet”. Now a global force, crypto attracts investors seeking diversification, inflation hedging and high returns. But with thousands of assets flooding the market, How can you access the cryptocurrency market?
對抗通貨膨脹
黃金最吸引人的特徵之一是它能夠長期對抗通貨膨脹。由於通貨膨脹的影響，貨幣會隨著時間的推移而貶值。房價變化就是一個很好的例子。1929年，美國的平均房價約為6,500美元。到2024年，平均房價飆升至約420,000美元，這表明美元在這段時間內貶值了多少。
然而，在1929年，10公斤黃金的價值約為7,300美元 — 剛好夠買一套普通的房子。但到2024年，同樣數量的黃金價值約為830,000美元 — 幾乎足夠購買兩套房子。撇開安全風險不談，這表明收藏黃金比持有現金要好得多。
什麼因素推動金價上漲？
黃金與其他傳統投資不同 — 它不會產生收入且供應有限，回報驅動因素因而有所不同。以下是四個推動金價上漲的因素，通常與通貨膨脹、波動性和地緣政治緊張局勢呈反向：
2024年是一個很好的例子，說明了這些因素所起的作用，因為黃金價格在一年內上漲。這期間，中東和烏克蘭的地緣政治緊張局勢加劇，利率下調，央行購買力度加大。
Crypto ETFs and funds: A hands-off approach
Want exposure to digital assets without managing wallets, private keys, or exchanges? Crypto ETFs and some crypto funds offer a way to invest in cryptocurrency markets without directly owning digital assets.
Crypto ETFs trade on stock exchanges and are available through brokerage accounts, similar to stocks or mutual funds. For example, Bitcoin futures ETFs are traded on the Chicago Mercantile Exchange (CME). As a type of exchange-traded product (ETP), crypto ETFs are regulated and accessible to retail investors via traditional platforms.
In contrast, crypto funds – including hedge funds, venture capital funds and private investment vehicles – don’t always follow the ETP model and regulation varies according to jurisdiction and structure. Catering mainly to institutional and accredited investors, they offer greater flexibility, but they often require higher capital commitments and face fewer disclosure requirements.
These options simplify crypto investing by bypassing the complexities of direct asset management. For instance, crypto closed-end funds are professionally managed, providing exposure to digital assets under a predefined mandate. However, it’s important to note that ETFs and ETPs can’t be used for direct crypto transactions, as they’re investment instruments and not functional cryptocurrencies.
In crypto, risk profiles trump all
By no means an exhaustive list of market entry strategies, all options discussed make one thing clear: navigating crypto requires more than just recognising investment options. It also requires understanding crypto’s inherently disruptive nature and whether this fits your risk profile.
A volatile and intangible asset class whose meteoric rise has delivered both substantial gains and steep losses, crypto has nonetheless cemented its place in global finance. It commands the attention of regulators, governments, and institutional investors, as Trump’s creation of a crypto task force reflects. And, amid geopolitical and economic uncertainty, crypto is gaining legitimacy as a decentralised, cost-efficient diversification tool for hedging against inflation and financial instability. Crypto isn’t for everyone. Beyond risk assessment, its constant media presence can fuel emotional decision-making. This is where applying behavioural finance principles can help investors stay rational. Afterall, when stepping into the crypto arena, managing emotions and risk is key to success.
Please note: the information provided is for educational purposes only.