Marissa Kim emphasizes that the rise in mainstream interest for crypto, especially after the approval of spot bitcoin and ether ETFs, is a pivotal growth opportunity for wealth managers. This demand calls for advisors to adapt their strategies to include crypto offerings like ETFs and SMAs effectively.
Kim highlights the critical differences between spot ETFs and crypto SMAs, noting that while ETFs provide indirect exposure to underlying assets, SMAs offer clients direct ownership alongside professional management. This evolution is well-aligned with increasing adoption trends in wealth management.
The introduction of qualified custodians for crypto SMAs enhances compliance and regulatory certainty, allowing wealth managers to offer a secure avenue for clients taking their first steps into digital assets. This approach mitigates risks associated with cryptocurrency investments, thus appealing to cautious advisors.
Finally, wealth managers are urged to leverage the new cryptocurrency instruments available, such as ETFs and SMAs. These tools not only expand the advisors' service offerings but also meet growing client demand for diversified investment portfolios that include crypto.
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