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By Suzanne McGee<\/p>\n
Jan 22 (Reuters) – As geopolitical tensions soar and government debt loads rise in many nations, digital assets investment \u200bfirm Bitwise and Proficio Capital Partners, a division of \u200ca Florida-based multi-family office, are rolling out an exchange-traded fund designed to invest in \u200calternatives to the dollar and other currencies, ranging from gold to bitcoin.<\/p>\n
The Bitwise Proficio Currency Debasement ETF, launched on Thursday, will offer investors a blend of those alternatives, starting with a minimum of 25% of its assets \u2060in gold, which has \u200cclimbed to record highs this year. But the fund’s backers said the logic behind the fund is not \u200djust about capturing a momentum trade in gold but about finding assets not tied to any individual currency or set of national monetary and fiscal \u200bpolicies.<\/p>\n
“I believe you have to view these as representing their own \u200casset class,” one that is distinct from stocks or bonds denominated in dollars or other government-issued currencies, said Bob Haber, chief investment officer and a founder of Proficio. “And when you’re not really being compensated for the risk of owning government bonds or assets denominated in \u2060dollars, euro or whatever, it makes sense \u200bto look for alternatives.”<\/p>\n
In addition to \u200bgold and bitcoin, the ETF will offer exposure to silver, platinum and palladium, as well as the mining companies \u200dthat produce these \u2060and other metals.<\/p>\n
Even if gold and silver prices pause their rally, Haber said he expects a growing number of investors to \u2060demonstrate interest in owning what he refers to as “hard currencies.”<\/p>\n
“This is a long-term secular \u200cshift in the market,” he said.<\/p>\n
(Suzanne McGee in Providence, \u200cRhode Island; Editing by Chris Reese)<\/p>\n<\/p><\/div>\n