Trading rules, volatility and risk are some of the reasons advisers are hesitant to recommend the digital assets
Financial advisers are treading lightly. For some, their own trading rules restrict them from holding cryptocurrencies for clients. Advisers can recommend only regulated investments and there is still a regulatory fog over crypto, so many advisers just steer clear. The Securities and Exchange Commission hasso far. For other advisers, the volatility and risk are the issue.
But clients are increasingly crypto curious. In the BitWise survey, about 94% of advisers said they got questions about crypto. It is a great asset to trade, he said, given the volatility and the wild swings, but it is much harder to justify as part of a stable portfolio. “When you talk to your clients about stocks or bonds, in almost all cases I can confidently say they’re not going to zero,” he said.
WSJ’s Dion Rabouin explains why Wall Street is now betting big on crypto and what that means for the new asset class and its future. Photo composite: Elizabeth Smelov
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