Matrixport Investment Research: BTC and gold may become the first choice for institutional asset allocation in 2025

The fifth BTC bull run is unfolding at an alarming pace, with BTC now approaching the $100,000 mark and looking increasingly unlikely to top out at this level.

Gold occupies a key position in institutional portfolios, a trend that may accelerate in the coming years. The efforts of global central banks to diversify their reserve assets away from the dollar may be a long-term task that will last for a decade or more. Although BTC has outperformed gold in recent years, both assets deserve a place in institutional portfolios, not only because of their non-correlated returns, but also because of their promising return prospects under the macroeconomic outlook.

Today鈥檚 Matrixport investment research will use quantitative methods to analyze institutional portfolio allocations, while incorporating our views on asset allocation in 2025.

Gold has experienced a sell-off after the US election due to a stronger dollar. However, this could be a great buying opportunity for gold investors, as the ongoing gold bull run could go hand in hand with the continued momentum of the BTC bull run. Gold occupies a key position in institutional portfolios, a trend we expect to accelerate in the coming years. The efforts of global central banks to diversify their reserve assets away from the dollar may be a long-term effort that will last a decade or more.

To date, there have been many attempts to justify the inclusion of BTC in institutional multi-asset portfolios. These arguments typically emphasize BTCs long-term solid performance, high risk-adjusted returns, and non-correlation with traditional asset benchmarks such as the SP 500. While BTCs correlations with other assets may temporarily spike, they remain unpredictable and inconsistent.

Frequent rebalancing may further improve returns, but the real value lies not in fine-tuning the rebalancing frequency, but in making informed judgments about return assumptions across asset classes and constructing a portfolio optimized for an acceptable level of risk. The potential role of BTC in a portfolio depends on forward-looking expectations, not just past performance.

Investors need to optimize their portfolios while managing risk and combining their views on future returns. The Black-Litterman asset allocation model provides a sophisticated solution. This widely used framework combines the Capital Asset Pricing Model (CAPM) with the subjective views of investors to create a robust and realistic portfolio allocation.

This portfolio allocation is designed for large multi-asset portfolio managers such as endowments, pensions and sovereign wealth funds. Based on portfolio optimization with a Sharpe ratio of 1.6x, the projected portfolio return is +15.6%.

上述部分觀點來自Matrix on Target。 聯絡我們 取得 Matrix on Target 的完整報告。

Disclaimer: The market is risky and investment should be cautious. This article does not constitute investment advice. Digital asset 貿易 can be extremely risky and unstable. Investment decisions should be made after carefully considering personal circumstances and consulting financial professionals. Matrixport is not responsible for any investment decisions based on the information provided in this content.

This article is sourced from the internet: Matrixport Investment Research: BTC and gold may become the first choice for institutional asset allocation in 2025

Related: When the market value of SOL exceeds 100 billion, let’s talk about Solana’s potential and constraints

Original | Odaily Planet Daily ( @OdailyChina ) Author: Wenser ( @wenser 2010 ) On November 10, Coinmarketcap data showed that SOLs market value once exceeded 100 billion US dollars, surpassing the traditional listed company Vanguard Group and ranking 192nd among 20,666 assets in the world; on the 11th, according to the statistics of the 8 marketcap website , SOLs market value fell back to 97.78 billion US dollars, and the 7-day increase was still as high as 27.83%, ranking 199th among 20,666 assets in the world, and ranking fourth in the market value of cryptocurrencies. At the same time, relevant practitioners from Bitwise, Standard Chartered Bank, Coinbase and other institutions have expressed high affirmation of the subsequent development of the Solana ecosystem. Odaily Planet Daily will share with readers…