Vision Hill: an institutional take on the 2019/2020 digital asset market

Vision Hill, a digital asset manager, assessed 2019 as “an exceptionally interesting and productive year for the digital asset industry” and expects 2020 to be bigger. The firm does not disclose Assets under Management or Advisement at this time.

As active participants in this emerging ecosystem, Vision Hill observed firsthand many major emerging trends and developments in 2019 that they have consolidated into top 10 takeaways as part of a year in review and peek ahead at 2020 to see how these trends come together.

Top 10 takeaways of 2019:

  1. There’s bitcoin and then there’s everything else
  2. Bitcoin is perhaps market beta, for now
  3. Despite slow conversion, substantial progress was made on growing institutional investor interest in 2019
  4. Long simplicity, short complexity
  5. Active management’s been challenged, but differentiated sources of alpha are emerging
  6. Token value accrual: transitioning from subjective to objective
  7. Money or not, software-powered collateral economies are here
  8. Network lifecycles: an established supply side meets a quiet but emerging demand side
  9. We are in the late innings of the smart contract wars
  10. Product-market fit is coming, if not already here

2020 look ahead:

Vision Hill expects 2020 to be a year of accelerated industry maturation. On the crypto-native side, they expect more layer-1 mainnet launches and continued innovative breakthroughs across the technical spectrum. On the institutional side, they expect the sophistication of the market to increase rapidly, in terms of education, infrastructural advancements and more attractive product offerings.

The below infographic summarizes the previously discussed trends and takeaways in this piece into one consolidated visual. This four-category segmentation provides allocators and potential investors with a clear, actionable framework for digital asset portfolio construction in 2020.

Source: Vision Hill

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