Once Anti-Crypto Bank Wells Fargo Planning To Onboard Bitcoin For Its Wealthy Clients

Once Anti-Crypto Bank Wells Fargo Planning To Onboard Bitcoin For Its Wealthy Clients
фото показано с : zycrypto.com

2021-5-19 19:32

The trajectory that the cryptocurrency market has seen in the last few years has been nothing short of remarkable. It has gone from being overlooked by the mainstream financial world to becoming the talk of the world and this last year, in particular, has seen more and more firms dipping their toes into the crypto waters.

The latest of these comes from Wells Fargo. According to recent reports, Wells Fargo’s investment institute intends to offer crypto investment strategies for its wealthy clients. This news was confirmed by the institute’s president Darell Cronk.

Exploring the Crypto Landscape 

The report also states that this development has been months in the making as the financial services giant has been looking into a professional solution and is now in the final stages and conducting due diligence. From all indications, this new initiative will be launched by mid-June.

This is significant because Wells Fargo’s investment management oversees almost $2 trillion in assets and is one of the biggest in the United States. Introducing digital assets like Bitcoin to these sorts of clients will go a long way to not only boost adoption but also pump money into the industry as well.

Cronk has given some insight into why this cryptocurrency product will be hitting the market as according to him, the industry is in the current state of maturation and evolution and this now allows it to be a viable investment asset for customers.

It should be noted that in the past, a number of firms and top executives were reluctant to invest in crypto as the market was deemed too unstable or not developed enough but clearly, this has changed. Cronk clarified that while the industry is still expanding, the company does not yet see it as big enough to have its own dedicated asset class in each portfolio.

“For those investors who qualify and have an interest, there’s some good academic and money management work to suggest that it can be a nice diversifier to portfolio holdings,” he said.

This news comes as the bitcoin markets and several top altcoins have taken significant hits in the last 24 hours, with the losses ranging in double digits.

BTCUSD Chart By TradingView

Similar to Notcoin - Blum - Airdrops In 2024

origin »

LALA World (LALA) на Currencies.ru

$ 0 (+0.76%)
Объем 24H $0
Изменеия 24h: 5.17 %, 7d: 9.44 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0004568 (-100%)

world seen mainstream financial crypto overlooked being

world seen → Результатов: 126


Zignaly Is Now Listed on AscendEX

Zignaly is a social, digital asset trading platform. They aim to simplify the world of digital asset trading, making it easy for everyone to include digital assets in their investment portfolio. The current bull run has helped immensely in growing Zignaly, and it has seen more than 10X growth in volume over the past 12 … Continued The post Zignaly Is Now Listed on AscendEX appeared first on BeInCrypto.

2021-4-14 20:21


Фото:

Bitcoin price struggles to reach $60k

Mixed feelings about BTC Bitcoin has seen countless mentioned when it comes to online media outlets over the past week, and as always, some were positive, while others were negative. One particular example came from Singapore, which warned the public against cryptocurrencies, despite the fact that most of the world has been warming up to […] The post Bitcoin price struggles to reach $60k appeared first on Invezz.

2021-4-6 15:25


Фото:

DeFi Goes Mainstream: B26 Finance Becomes Official Sponsor for the Falcons, Dubai’s Basketball Team

PRESS RELEASE. B26 Finance, the world’s first blockchain-based self-banking service, has recently been released to the world. Being a relatively new project, developed and worked on for years, but officially launched 2 weeks ago (8/03/2021), B26 Finance has seen massive growth and adoption from the DeFi and crypto communities alike, with immense potential for mainstream […]

2021-3-23 21:00


Фото:

Bitsz: A Mission to Save The World of Cryptocurrency Exchanges

The cryptocurrency market is heating up. A surge in demand for cryptocurrencies across the board has seen projects all-round reach new all-time highs in recent months. Indeed, the total market capitalization for call cryptocurrencies crossed the key $2 trillion level earlier this year, led by the market’s leader, Bitcoin (BTC).  BTC itself tripled since DecemberRead More

2021-3-22 14:43


Фото:

Bitcoin Crosses $1 Trillion Milestone as Buying Frenzy Continues

Bitcoin has seen some wild price action throughout the past couple of days, with bulls driving the crypto higher and putting a firm end to its recent consolidation phase This has allowed the benchmark cryptocurrency to cross the $1 trillion market cap milestone It is now one of the largest currencies in the world by market cap and ranks high when stacked against the market caps of the world’s largest companies The crypto is showing […]

2021-2-20 21:34


Фото:

Finxflo’s cross-chain functionality opens up a world of new trading pairs

Both trading volumes and active wallet addresses for bitcoin have now surpassed their previous all-time highs that were seen during the last cryptocurrency bull run of 2017. As capital from legacy traders and long-standing institutional investors alike pours into the space, the future is looking good for the world of cryptocurrencies. With over 8300 cryptocurrenciesRead More

2021-1-31 15:42


New Crypto Developers Growing for the First Time since 2017: Electric Capital Report

Just as the price of Bitcoin and digital assets start surging, so does the talent which has been flocking back to the cryptocurrency market in the last few months. Software developers are making their back into the world of crypto at a level that hasn’t been seen since the market peaked three years ago when […] The post New Crypto Developers Growing for the First Time since 2017: Electric Capital Report first appeared on BitcoinExchangeGuide.

2020-12-11 17:23