Stock Brokerage EF Hutton Initiates Research On Cryptocurrenciesbr>
US-based stock brokerage firm EF Hutton is initiating research on a wide range of cryptocurrencies to educate investors.
Founded in 1904, EF Hutton is one of the most respected financial firms in the United States and for several decades was the second largest brokerage firm in the country. The firm provides digital finance services including online investment services.
EF Hutton announced that it is initiating “coverage of bitcoin (BTC), ethereum (ETH), Ripple (XRP), EOS, Litecoin (LTC), Bitcoin Cash (BCH), Cardano (ADA) and will rate each.” The research reports, which will be available on a monthly subscription basis, include a 1–5 star ratings on specific coins, a daily crypto market update, and an equity research coverage of companies involved in cryptocurrencies and other digital assets.
“Market research is a $19 billion market, according to statistica.com, and EF Hutton is the only nationally-branded financial firm to provide this advanced level of research to individuals interested in this emerging asset class,” the company said. “Only a small percentage of US investors hold digital assets like bitcoin. However, many investors are interested but are refraining from purchasing because they cannot find research from sources they trust. EF Hutton intends to provide keen insights and deep analysis that make its research reports “must read” by individual and institutions interested in this asset class.”
EF Hutton CEO Christopher Daniels said that many investors are confused by the rapid developments in this new asset class and he believes this research subscription initiative will help educate investors interested in cryptocurrencies.
“Our rating on BCH is five stars,” Daniels said. “In our rating scale – 5-stars is the highest and best rating that can be assigned to an instrument. It means that we foresee significant appreciation within the next 12 months.”
Daniels added that this is the first of many initiatives they are taking that adds value for their clients and customers. The company believes the research subscription initiative will add $0.12 per share to EF Hutton’s parent company HUTN revenue in 2019 and is planning to further extend its expertise in cryptocurrencies.