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13 May 2021

Financial advisers lead the institutional push toward crypto adoption

Financial advisers lead the institutional push toward crypto adoption

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Financial advisers lead the institutional push toward crypto adoption.

In the past, there were plenty of reasons for financial advisers to dismiss Bitcoin (BTC) and other cryptocurrencies as a worthy investment, but all of that is starting to change as more institutions become attuned to the digital asset class.

In a follow-up interview with Cointelegraph, Sonnenshein explained that “curiosity and demand from clients are driving financial adviser interest in crypto.” His conclusion stems from a preliminary survey commissioned by Grayscale showing that “more than half of advisers are receiving questions from their clients about cryptocurrencies.”.

Sonnenshein also noted that financial advisers are among the investors who invest in Grayscale's family of funds, whose combined assets now exceed $46 billion.

Edouard Hindi, co-founder and chief investment officer of Tyr Capital, a United Kingdom-based cryptocurrency hedge fund manager, said financial advisers have increased their allocation of digital assets, especially Bitcoin, over the last six months.

Now, it’s considered career-ending not to have any exposure to digital assets.

While institutional adoption of digital assets remains nascent, several major investors and corporations have made a big splash by acquiring Bitcoin.

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