{"id":42798,"date":"2021-05-19T17:50:15","date_gmt":"2021-05-19T14:50:15","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=42798"},"modified":"2025-08-31T00:49:43","modified_gmt":"2025-08-30T21:49:43","slug":"wells-fargo-to-open-access-to-cryptocurrencies-for-accredited-investors","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/wells-fargo-to-open-access-to-cryptocurrencies-for-accredited-investors\/","title":{"rendered":"Wells Fargo to open access to cryptocurrencies for accredited investors"},"content":{"rendered":"<p>The asset management division of the Wells Fargo financial holding company will open access to cryptocurrencies to accredited investors. <a href=\\\"https:\/\/www.businessinsider.com\/crypto-investing-wells-fargo-to-add-fund-to-platform-bitcoin-2021-5?r=DE&#038;IR=T\\\" target=\\\"_blank\\\" rel=\\\"noreferrer noopener nofollow\\\">Business Insider<\/a> reports, citing Wells Fargo Investment Institute president Darrell Cronk.<\/p>\n<p>\\n\\n<\/p>\n<p>Wells Fargo Wealth and Investment Management (WIM) has been seeking a &#8216;professionally managed solution&#8217; for several months. The division is at the late stages of due diligence.<\/p>\n<p>\\n\\n<\/p>\n<p>According to Cronk, the launch of an &#8216;actively managed strategy&#8217; for cryptocurrencies is planned for mid-June.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;We believe the industry has reached the level of maturity that makes cryptocurrencies viable investment assets,&#8221; he added.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<p>Cronk stressed that WIM regards digital assets as suitable for &#8216;alternative investments.&#8217; They are not suitable for &#8216;strategic allocation,&#8217; but they can be used to diversify a portfolio.<\/p>\n<p>\\n\\n<\/p>\n<p>WIM comprises Wells Fargo Private Bank, Abbot Downing, and Wells Fargo Advisors. The division manages about $2 trillion in assets.<\/p>\n<p>\\n\\n<\/p>\n<p>Back in December, Wells Fargo named Bitcoin <a href=\"https:\/\/forklog.com\/en\/news\/wells-fargo-bitcoin-will-eventually-become-a-worthy-investment\">\u0441\u0430\u043c\u044b\u043c \u043f\u0440\u0438\u0431\u044b\u043b\u044c\u043d\u044b\u043c \u0438\u043d\u0432\u0435\u0441\u0442\u0438\u0446\u0438\u043e\u043d\u043d\u044b\u043c \u0430\u043a\u0442\u0438\u0432\u043e\u043c<\/a> 2020.<\/p>\n<p>\\n\\n<\/p>\n<p>In May 2021, the New York Digital Investment Group platform formed a partnership with fintech giant Fidelity National Information Services. Together they <a href=\"https:\/\/forklog.com\/en\/news\/media-hundreds-of-american-banks-poised-to-give-clients-access-to-bitcoin\">will provide bank clients access to cryptocurrencies<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>Follow ForkLog news on <a href=\\\"https:\/\/vk.com\/forklogcom\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The asset management division of the Wells Fargo financial holding company will open access to cryptocurrencies to accredited investors.<\/p>\n","protected":false},"author":1,"featured_media":42799,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,52,2054],"class_list":["post-42798","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-investments","tag-wells-fargo"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/42798","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=42798"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/42798\/revisions"}],"predecessor-version":[{"id":42800,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/42798\/revisions\/42800"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/42799"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=42798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=42798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=42798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}