Number of financial planners investing in crypto increases by 50%
A survey published by Bitwise has found that nearly 10% of investment advisors have made client portfolio allocations into crypto assets. A survey published by crypto index fund provider Bitwise Asset Management has found the number of financial advisors allocating capital toward crypto has increased by roughly 50% in one year.The survey, conducted in partnership with investment website ETF Trends, queried nearly U.S.-based 1,000 financial advisors in December. The findings indicate that 9.4% of client portfolios were exposed to crypto assets — up from 6.3% one year ago.Of the investment....
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The California Department of Business Oversight (DBO) and the New Mexico Taxation and Revenue Department (TRD) have both issued new releases warning consumers in those states about the potential downsides of investing in digital currency. The California DBO oversees a number of financial service and product providers in California, including banks and credit unions, money transmitters, investment planners and independent escrow agents, among other entities, while the New Mexico's TRD is responsible for collecting governmental revenue. Overall, the releases take a broad look at digital....
An industry group representing certified financial planners has found that bitcoin can be a beneficial addition to investor portfolios. In the new report, the Financial Planning Association (FPA) asserted that for many investors, bitcoin represents a potential opportunity that could both diversify and boost the efficiency of a portfolio. The FPA study compares the performance of bitcoin markets with other major asset indexes, concluding that though bitcoin does not demonstrate the attributes of a successful currency, the act of trading and investing digital currency can be profitable. The....
A number of asset managers have cautioned about investing in cryptocurrencies, including UBS Wealth Management, Pimco, T. Rowe Price, and Glenmede Investment Management. “We expect more stringent policy and regulatory controls ahead for crypto as it becomes more mainstream,” said UBS. Asset Managers Caution of Crypto Investing A number of asset managers have expressed caution on cryptocurrency after the recent price swings, including UBS Wealth Management, Pimco, T. Rowe Price, and Glenmede Investment Management, the Financial Times reported Monday. UBS Wealth Management....
The report titled “How Millennials See Their Financial Future” showed that 40% of millennial survey participants have invested in crypto. A report published by investing firm Alto surveyed adults based in the United States to find out their preferences in investing. The results showed that more millennials from ages 25 to 40 are investing in crypto compared to those of the same age who are investing in mutual funds. The survey shows that 40% of millennial participants have invested in cryptocurrencies. According to the report, this is “greater than the percentage of millennials who own....
At the start of this month, air traveling payment network UATP announced to integrate Bitcoin payments to its platform after inking a partnership with Bitnet, a payment processing platform. Though, this was not the first time that a traveling business acquainted a digital currency as its payment option. Earlier, a similar decision has been taken by popular traveling planners like WebJet, Expedia and CheapAir. According to statistics dating back in 2013, tourism industry had contributed around $6,990 billion to the overall global economy. A huge part of this income was generated from online....