Dallas, TX, United States, 10/27/2021 / Top Wire News /
As one would expect, PayPal Holdings Inc. and Coinbase were included in a basket of stocks compiled by Bank of America’s new digital assets research team along with some less obvious entrants whose inclusion was quite surprising.
The list consists of 20 or so equities that are rated as Buy or Neutral by BofA and are exposed to the digital-asset theme. These include Black Hills Corp., a “utility with the most advanced digital asset regulatory strategy that could potentially be earnings accretive,” along with Archer-Daniels-Midland Co. and Bunge Ltd., companies that are using blockchain technology for global agricultural trade-related transactions according to a research note.
Strategists including Alkesh Shah, Andrew Moss, and Jessica Reif Ehrlich said in the note that the growth of digital assets is still in its early stages and regulatory issues are the biggest near-term risks to the growth of digital assets. BofA still sees room for a newer generation of companies related to digital asset trading, offerings, and new applications across different industries including finance, supply chain, social media, and gaming.
The firm has witnessed growing institutional and retail demand for digital asset content, said BofA research head Candace Browning on Bloomberg Television. According to a press release, BofA launched the coverage on Monday, although it had announced the creation of the team headed by Shah earlier this year.
Sources:
Yahoo Finance Where to Find Crypto-Themed Investments in Surprising Places
https://finance.yahoo.com/news/where-crypto-themed-investments-surprising-083406881.html
Reuters Bank of America launches research coverage for digital assets
https://www.reuters.com/business/bank-america-launches-research-coverage-digital-assets-2021-10-04/
City A.M Bank of America commences digital asset research
https://www.cityam.com/bank-of-america-launches-digital-asset-research-team/
Source: Story.KISSPR.com
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