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Fidelity: Asset Managers Still Don’t Understand Cryptocurrencies

The increased demand from large investors for cryptocurrencies is creating an incentive for wealth managers and financial advisors to study the emerging asset class. This was stated by the head Fidelity Institutional Asset Management Michael Durbin in an interview Reuters

According to the expert, family offices and investment advisers have begun to better understand digital assets, but the process of their development is at an early stage.

“The vast majority are still in ‘learning mode’, – explained Durbin.

The top manager expects increased interest in bitcoin and other cryptocurrencies. In his opinion, the driver will be the desire to increase the share of so-called alternative investments.

“The cryptocurrency market will receive part of the capital inflow into alternative investment instruments. The consultants will have to figure out how to integrate digital assets into portfolios “, – concluded the specialist.

Recall in June 2020 at Fidelity reported, what every third of 774 surveyed large clients in the US and Europe have already included digital assets in the list of investment objects.

At the end of December, the head of Fidelity Investments Abigail Johnson said about incredible success a cryptocurrency storage service launched in October 2019 for institutional clients.

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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