The 114 year old investments services firm, EF Hutton, a subsidiary of HUTN Group Inc, has started offering cryptocurrency oriented market research. Last week EF Hutton released its first ‘subscription only’ research report.

Christopher Daniels, CEO at EF Hutton, explained the firm’s decision to cover the emerging asset class of digital currencies:

A great many investors are confused by the rapid developments in this new asset class

Christopher Daniels

He went on to state:

They know they can trust EF Hutton to guide them and to inform them about developments in this asset class.  This is the first of many initiatives we are taking that adds value for our clients and customers.

The company’s first report covers seven top cryptocurrencies, Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), EOS (EOS), Litecoin (LTC), Bitcoin cash (BCH), and Cardano (ADA). In addition to covering these cryptocurrencies, EF Hutton has given each a rating from 1-5 based on intrinsic value and a 12-month outlook “with five-stars representing a positive outlook and one-star representing a negative outlook,” as the firm details.

“Our rating on BCH is five stars. 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.” stated Daniels in a discussion with

EF Hutton also announced that they would, along with the cryptocurrency research, release equity research coverage for companies involved in digital assets, beginning with Hut 8 Mining and Hive Blockchain Technologies.

According to Daniels the company also looks into “short, medium and long-term factors that will impact the price of the instrument, however our rating is based on our view of the instrument in the next 12-months.”

After considering the cryptocurrencies function within its blockchain, they consider “how the instrument is positioned versus other instruments that may overlap with its originated purpose,”.

After EF Hutton completes their cryptocurrency specific analysis, they focus on other issues that could possibly impact the supply and demand of the specific cryptocurrency. Daniels stated that:

For example, liquidity. We consider the extent to which speculators attracted to the [cryptocurrency] and thereby add to the liquidity of the [cryptocurrency].

Christopher Daniels