Bitcoin is attracting more and more well-known companies and funds.
It has now been announced that the investment advisory firm Mariner Wealth Advisors, which manages assets of more than 29 billion US dollars, is also opening its doors to Bitcoin.
As the asset manager on Tuesday in a press release announced, Mariner Wealth Advisors is now offering its clients direct access to Bitcoin. As a result, the Registered Investment Advisory Service (RIA), whose network of independent financial advisors manages around $ 29 billion, is now giving its 23,000 customers an opportunity to get into the largest cryptocurrency. Around 346 financial advisors will soon have access to the Bitcoin markets via a separately managed account (SMA). The connection was set up in cooperation with the crypto investment company Eaglebrook Advisors, which offers Bitcoin custody services through the Gemini Trust Company.
The CEO of Eaglebrook Advisors, Christopher King, said in the press letter:
Our investment solution, tailored to the specific needs of companies like Mariner Wealth Advisors, makes it easy for their advisors to allocate Bitcoin. We expect the adoption of cryptocurrencies to continue and the market to mature, which will result in even greater demand.
Not least because of the explosively rising Bitcoin price, institutional investors such as banks and investment firms seem to be more interested in Satoshi’s creation. Bitcoin has tended to have a niche existence in the portfolio of professional investors for the past few years and served more as a speculative risk position than as a long-term investment. In addition to the lack of regulations in the crypto sector, it was primarily the inherently high volatility of the asset that prevented many large investors from entering the market.
At least since the pandemic rocked the global financial markets and triggered an inflationary money printing strategy by the central banks, more and more investors are turning to digital currency. Bitcoin is increasingly acting as an inflation protection and a store of value.
Grayscale’s Bitcoin Trust, the largest asset manager for digital currencies, manages assets of more than ten billion US dollars. In total, Grayscale has held 500,000 Bitcoin since the most recent shopping spree and thus, depending on the estimate, around 2.7 to 3.3 percent of the total BTC in circulation.
In addition, the investment company SkyBridge Capital, which manages more than $ 7.7 billion in assets, according to a new announcement by the US Securities and Exchange Commission (SEC), reveals that the company is also likely to invest in mutual funds that are built on digital assets. So it is written in it:
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