Asset-management firm Grayscale Investments and fintech platform iCapital Network have entered into a partnership to simplify access to digital assets for investment advisers.
According to the press release, iCapital employs 6,700 professionals servicing high-net-worth clients.
The collaboration is expected to combine the platform’s capabilities in education, technology and investment management with Grayscale’s expertise in digital assets.
iCapital’s clients and advisers will gain access to Grayscale’s investment strategies, the company said.
“Advisers and their clients have expressed a growing appetite for potentially uncorrelated returns in their portfolios, and digital assets are now at the centre of discussion,”
— said iCapital CEO Lawrence Calcano.
According to a Grayscale and InvestmentNews Financial Advisor survey, 61% of advisers sought information about cryptocurrencies at clients’ initiative. Seventy-nine percent of advisers planned to recommend increasing investments in digital assets over the next 12 months if their firm recommended it.
“In a world with trillions of dollars in fiscal stimulus and negative real interest rates, the asset-management industry for affluent clients recognises the benefits of diversification and inflation hedging that digital currencies can offer in an investment portfolio,” commented Grayscale COO Hugh Ross.
As of September 10, assets under management across the company’s cryptocurrency funds total $42.3 billion, with the overwhelming majority—$29.8 billion—allocated to the Bitcoin Trust.
09/10/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
Total AUM: $42.3 billion$BTC $BAT $BCH $LINK $MANA $ETH $ETC $FIL $ZEN $LTC $LPT $XLM $ZEC $UNI $AAVE $COMP $CRV $MKR $SUSHI $SNX $YFI $UMA $BNT $ADA pic.twitter.com/nghK8xmdEO
— Grayscale (@Grayscale) September 10, 2021
Grayscale signed an agreement with Bank of New York Mellon to convert the Bitcoin Trust into an exchange-traded fund.
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