The partnership will help feed iCapital’s client’s appetite for the “uncorrelated return potential” in the digital asset space.
Grayscale – the world’s largest digital asset fund based in the US – has recently partnered with fintech investment platform iCapital to offer cryptocurrency investment strategy to the latter’s 6,700+ clients.
Crypto Exposure for Rich Shoppers
As reported by Globe Information Wire, the partnership shall be pairing iCapital’s technology and investment capabilities with Grayscale’s expertise in the cryptocurrency space. Collectively, iCapital will provide access to Grayscale’s “diversified market-cap-weighted funding technique” to their thousands of clients.
Lawrence Calcano, Chairman, and CEO of iCapital Network, said cryptocurrencies are of great interest to rich shoppers, making a Grayscale partnership a logical next-step:
“Advisors and their clients have expressed an increasing appetite for uncorrelated return potential of their portfolios, and digital currencies are at the center of the conversation right now. We’re delighted to accomplice with Grayscale, a recognized chief in digital currency investing with the expertise to help investors navigate this dynamic asset class.”
Grayscale’s data indicates an identical trend. Their survey of financial advisors reveals that 61% of their shoppers have approached them for more information about cryptocurrency investing.
Grayscale COO Hugh Ross outlined his pleasure for the deal and acknowledged how diversifying into cryptocurrency may help wealth managers store their wealth over time – particularly in today’s world.
“In a world with trillions of dollars of fiscal stimulus and adverse actual rates of interest, the wealth management industry is recognizing the diversification advantages and inflation hedge potential that digital currencies can offer in an investment portfolio.”
Grayscale: The Greatest US Choice for Crypto Exposure
Relating to the partnership, Ross added that Grayscale differentiates itself from different potential iCapital partners through its “transparency as an SEC reporting company.”
Certainly, although makes an attempt at a Bitcoin or cryptocurrency ETF within the US have been repeatedly shot down by the SEC, regulators stay accepting of Grayscale and many of its products.
The digital asset supervisor has just lately doubled the number of SEC reporting products to six – adding a Bitcoin Cash trust, Litecoin trust, and Ethereum Classic trust.