Remember Bitcoin?

We’ll forgive you if you’ve deleted those files from your brain, but Bitcoin is slowly creeping back into the collective investing consciousness of late. Why? Well, more than doubling from $3,500 to $7,000 in starts to put you back in the conversation.

The doubling of Bitcoin and its flirtation with the $9,000 handle again means prices are the highest they’ve been since May of 2018, and about 220% higher than it was in May of 2017, if you can believe it. Although the Wall Street Journal warns that “The [Bitcoin price] gain may be less about demand for bitcoin and more about problems at the embattled exchange Bitfinex.” (mayyybe related to something like this).

(coinmarketcap.com)

One market is paying particular attention to this move, the CME Bitcoin futures contract, which had its best month since launching in May, with the average daily volume reaching more than 13,600 contracts. That’s equal to $515 million notional value or 68,000 equivalent bitcoin, up 27 percent when compared to the month of April. On May 13, bitcoin futures traded a record single-day volume of 33,677 contracts (168,000 equivalent bitcoin or $1.3 billion notional value) while on May 28, BTC hit a record open interest of 5,190 contracts.

It’s not all rainbows and lollipops, though. The CBOE, who was first to market with a Bitcoin futures contract, has shut down their Bitcoin futures product due to lack of interest. This is likely more of a winner take all effect happening between the two exchanges than a commentary on the need/desire to hedge Bitcoin, but is worth noting none the less.

Meanwhile, some futures trading managers are getting more and more involved in the growing futures market, with one manager able to post a 20%+ month in May [Past performance is not necessarily indicative of future results]. Call or email us at invest@rcmam.com for more details on this program’s strategy.

 

 

 

 

 

PS – In May 2019, Bitcoin even rivaled google searches for terms like Trump and Old Town Road (if you know, you know).

(Red=Trump)                              (Red=Old Town Road)

Disclaimer
The performance data displayed herein is compiled from various sources, including BarclayHedge, and reports directly from the advisors. These performance figures should not be relied on independent of the individual advisor's disclosure document, which has important information regarding the method of calculation used, whether or not the performance includes proprietary results, and other important footnotes on the advisor's track record.

The programs listed here are a sub-set of the full list of programs able to be accessed by subscribing to the database and reflect programs we currently work with and/or are more familiar with.

Benchmark index performance is for the constituents of that index only, and does not represent the entire universe of possible investments within that asset class. And further, that there can be limitations and biases to indices such as survivorship, self reporting, and instant history. Individuals cannot invest in the index itself, and actual rates of return may be significantly different and more volatile than those of the index.

Managed futures accounts can subject to substantial charges for management and advisory fees. The numbers within this website include all such fees, but it may be necessary for those accounts that are subject to these charges to make substantial trading profits in the future to avoid depletion or exhaustion of their assets.

Investors interested in investing with a managed futures program (excepting those programs which are offered exclusively to qualified eligible persons as that term is defined by CFTC regulation 4.7) will be required to receive and sign off on a disclosure document in compliance with certain CFT rules The disclosure documents contains a complete description of the principal risk factors and each fee to be charged to your account by the CTA, as well as the composite performance of accounts under the CTA's management over at least the most recent five years. Investor interested in investing in any of the programs on this website are urged to carefully read these disclosure documents, including, but not limited to the performance information, before investing in any such programs.

Those investors who are qualified eligible persons as that term is defined by CFTC regulation 4.7 and interested in investing in a program exempt from having to provide a disclosure document and considered by the regulations to be sophisticated enough to understand the risks and be able to interpret the accuracy and completeness of any performance information on their own.

RCM receives a portion of the commodity brokerage commissions you pay in connection with your futures trading and/or a portion of the interest income (if any) earned on an account's assets. The listed manager may also pay RCM a portion of the fees they receive from accounts introduced to them by RCM.

Limitations on RCM Quintile + Star Rankings

The Quintile Rankings and RCM Star Rankings shown here are provided for informational purposes only. RCM does not guarantee the accuracy, timeliness or completeness of this information. The ranking methodology is proprietary and the results have not been audited or verified by an independent third party. Some CTAs may employ trading programs or strategies that are riskier than others. CTAs may manage customer accounts differently than their model results shown or make different trades in actual customer accounts versus their own accounts. Different CTAs are subject to different market conditions and risks that can significantly impact actual results. RCM and its affiliates receive compensation from some of the rated CTAs. Investors should perform their own due diligence before investing with any CTA. This ranking information should not be the sole basis for any investment decision.

See the full terms of use and risk disclaimer here.

logo