Portfolio IQ: Crypto and Cash

Steve Wruble isn’t quite all in on cryptocurrency investing, but he’s close.

Wruble, Director of Portfolio Solutions at the turnkey asset management platform Amplify Technology, has half of his investment portfolio invested in crypto, either directly or through crypto ETFs.

But outside that outsized allocation to digital currencies, Wruble has about 25% in cash and 25% in a municipal bond money market fund, which underscores his appreciation of liquidity.

“I’m heavy in cash because I like liquidity,” he said.

Wruble, who is based in Omaha, Neb., is 42, married with no kids and part of a double-income household.

While his cash and muni bond exposure is structured around liquidity and tax management, his heavy weighting in crypto is all about believing in the future of the asset class.

“I am bullish on crypto,” said Wruble, who started investing in Bitcoin in 2015 when it was trading around $500, or about 18,500% below the current price.

Digital Wallet and Crypto ETFs

The majority of his crypto holdings are held on a digital wallet, but he is also invested in some of the ETFs that have been created including the Grayscale Bitcoin Trust ETF (GBTC) and the Grayscale Ethereum Trust ETF (ETHE).

While some might argue that Wruble’s investment portfolio is a bit unorthodox, without any allocation to traditional equities, he maintains that by virtue of his job at a technology company there is plenty of equity market exposure.

“If you look at my big picture, I’m highly exposed to traditional equity markets because my income is tied to Amplify,” he said. “The greatest wealth is tied up in my career.”

In terms of recommending his investment strategy to others, Wruble acknowledged that his portfolio is not for everyone.

“I would not recommend this because my day to day involves the more classical investment strategy,” he said. “This is my personal financial planning strategy.”