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The Rising Demand for Whiskey: A Smart Investor’s Choice

Why are 250,000 Vinovest customers investing in whiskey?

In a word - consumption.

Global alcohol consumption is on the rise, with projections hitting new peaks by 2028. Whiskey, in particular, is experiencing significant growth, with the number of US craft distilleries quadrupling in the past decade. Younger generations are moving from beer to cocktails, boosting whiskey's popularity.

That’s not all.

Whiskey's tangible nature, market resilience, and Vinovest’s strategic approach make whiskey a smart addition to any diversified portfolio.

Schedule a call with a Vinovest advisor to learn more.

Market Updates

The SEC approved a rule change that will allow Ethereum exchange-traded funds (ETFs). This comes after Bitcoin ETFs hit the market in mid-January, and its price has grown by nearly 50% since then. There is similar optimism for Ethereum’s prospects, and while its price has stayed mostly flat since the announcement was made, it is up 28% in the last week as anticipation for the decision fueled demand. Meanwhile, the London stock exchange approved exchange-traded products for both Bitcoin and Ethereum, which are set to start trading in the next week. As crypto continues to become more accessible to mainstream investors, it is likely to see a rise in demand, and perhaps a continued rise in value.

OpenAI faced two separate controversies. The first comes from actress Scarlett Johansson, who was “shocked and angered” by the voice of OpenAI’s new ChatGPT-4o model, which many noted for its similarity to Johansson’s voice. The actress revealed that founder Sam Altman had approached her to voice the model last year, but that she turned him down, so the similarity seems intentional. Altman tweeting “her,” in a likely reference to a 2013 movie where Johansson voices an AI, did the company no favors. For now, they pulled the voice after Johansson threatened legal action. The other controversy came when former employees revealed that they were pressured into signing non-disparagement clauses or risk losing vested equity shares. The company quickly backtracked on that, as well, but all this bad publicity is a tough look for a company that is already struggling to gain the mainstream’s trust.

The jersey from Babe Ruth’s famed “called shot” will be auctioned in August. The authenticated and photo-matched jersey from Game 3 of the 1932 World Series is expected to become the most expensive piece of sports memorabilia ever sold when it goes on the block at Heritage Auctions later this summer. The estimated value of $30 million is nearly triple the current record of $10.1 million held by a Michael Jordan jersey, and over double the $12.6 million record for any sports collectible held by a Mickey Mantle baseball card. The jersey last sold in 2005 for $940,000, but the recent photo-match to one of baseball’s most famous moments has increased its value exponentially.

The New York spring art auction season generated $1.4 billion in sales for the four major auction houses. This was on the low end of estimates, which were pegged between $1.3 billion and $1.8 billion. The results did prove better than some pessimistic predictions, particularly after Christie’s suffered a hack that kept their website down throughout the period. Still, the marquee evening auctions saw a 22% drop from last year and a 55% drop from 2020. The repercussions from the middling results may continue into the fall art auction season, as potential sellers hold onto works rather than sell in what is perceived as a down market.

📝 Top Stories

• Crypto legislation: FIT21, the first major piece of crypto-related legislation, passed the House this week with bipartisan support, and aims to give clarity to the industry about which tokens would fall under the SEC’s purview. It also sets a path for certain types of cryptocurrencies to be traded and used by Americans.

• Home sales fall: According to the National Association of Realtors, the number of existing-home sales fell by 1.9% in April and the median sale price rose by 5.7% from 2023.

• The Scotch market: A look at the secondary market for collectible whiskeys, with an emphasis on patience and diversification.

Exclusive Event: Today at 3 PM ET, VC Files’ brings you a discussion with Sophie Liao of Oyster Ventures. This is a Republic Note holder-only event. Get Notes to secure the invite.

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