Kim Arthur

We like to kind of express ourselves with BITW that basically is 3/4 Bitcoin and then it's a little over 10% Ethereum and then you get a sprinkling of Solana and Link inside of there. Regulatory tailwinds and the end of the crypto winter are creating a favorable setup for digital assets. Because active managers and smaller altcoins historically struggle to outperform Bitcoin, using a market-cap-weighted index fund captures the broad upside of the asset class while mitigating single-coin risk. LONG. Bitcoin's valuation is currently lagging behind positive regulatory changes, offering an attractive entry point for a diversified crypto basket. Regulatory setbacks, prolonged high interest rates dampening speculative asset demand, or a failure of the broader crypto ecosystem to expand its real-world utility.

It went from asset light... and it's rotated very hard into asset heavy basic materials, industrials and energies. Those cycles are long dated because of data center build out, manufacturing onshoring. The AI revolution and geopolitical supply chain shifts are moving capital from software to physical infrastructure. Building data centers and relocating manufacturing facilities require massive amounts of steel, metals, and energy. This creates a multi-year structural tailwind for industrial, material, and energy companies that supply the physical components of this build-out. Long physical infrastructure and asset-heavy sectors as they capture the massive capital expenditure phase of the current economic cycle. A severe global recession or persistently high interest rates could stall capital-intensive infrastructure and manufacturing projects.

It went from asset light... and it's rotated very hard into asset heavy basic materials, industrials and energies. Those cycles are long dated because of data center build out, manufacturing onshoring. The AI revolution and geopolitical supply chain shifts are moving capital from software to physical infrastructure. Building data centers and relocating manufacturing facilities require massive amounts of steel, metals, and energy. This creates a multi-year structural tailwind for industrial, material, and energy companies that supply the physical components of this build-out. Long physical infrastructure and asset-heavy sectors as they capture the massive capital expenditure phase of the current economic cycle. A severe global recession or persistently high interest rates could stall capital-intensive infrastructure and manufacturing projects.