Saxo Bank Adds 5 New Companies to its Crypto Theme Basket

Fazzaco has learned that Saxo Bank, a leading multi-asset trading broker, is adding 5 new companies into its crypto and blockchain theme basket, including Safello Group, Northern Data, Quickbit, Taal Distributed, and Digihost. This basket offers exposure to investors who want to trade cryptocurrencies but do not want to own physical cryptocurrencies.

Safello Group, a Swedish-based crypto broker, has just IPO’ed in Stockholm recently, and Saxo takes this IPO as an opportunity to add some new companies to the crypto theme basket.

Until now, there are 23 companies in the basket representing $97.7bn in combined market value. The median price target is 56% above the current price, which indicates that analysts remain very bullish on this industry despite the recent volatility.

“We do not have a firm view on this industry except that outright speculation is for now the main activity in cryptocurrencies and that the industry still need to prove that it can be other than pure speculation”. Saxo Bank said.

In the middle of April, Fazzaco has reported that Saxo introduced cryto and blockchain theme basket​.