Whether you are a longtime skeptic, or a true Bitcoin believer, you and most advisors likely received client questions regarding cryptocurrencies this year, and it’s a question you can no longer punt.
2021 saw the continued rise in digital assets, with Bitcoin climbing approximately 60% (as of Dec. 20) and Ethereum climbing 443% (as of Dec. 21). The overall market value of cryptocurrencies tripled in 2021, nearing $3 trillion at one point.
WealthManagement.com followed the trend from the advisor’s perspective—with a curious but skeptical eye, covering how best to position crypto assets in client portfolios, how to answer client questions about crypto markets and what new tools and platforms have been cropping up to serve advisors in this space. Take Onramp Invest, a cryptocurrency “integration platform as a service” launched last spring, as an example. In October, WealthManagement.com was closely following ProShares’ historic launch of the first bitcoin futures ETF, the ProShares Bitcoin Strategy ETF, and the fund’s implications for advisors.
Click through to see more of our coverage of this rising trend and how it could impact the wealth management industry.