Private Banks Representing Trillions of Dollars in Assets Offering Bitcoin and Crypto Exposure

7:50 am, Wed, 13 July 22

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Bitcoin and Ethereum have been noticeably stuck in a downward spiral, where both digital assets have been unable to cross important price marks.

Over the last seven days, the price of BTC has dropped nearly 3.18%, while that of ETH has dropped around 6.51%.

BTC and ETH are not the only two crypto assets undergoing such serious drops in prices. Many crypto enthusiasts have taken a step back from crypto due to the widespread crypto space decline. On the other hand, major entities and Whales have been taking this as an opportunity to buy the dip.

As per reports, some private banks have also started offering Bitcoin and crypto exposure to their clients, despite the price movements seen at the moment. Let’s find out more details.

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What to Know About Banks Embracing Crypto?

Embracing crypto-related services and exposure is risky, which is why many banks have refrained from offering such services. One would think that offering Bitcoin exposure at the moment (considering the market conditions) would be riskier.

However, one of the largest crypto index fund managers in the world has offered a particular insight into the adoption of crypto at the moment.

Bitwise Asset Manager is a massive company that has been witnessing some surprising and intriguing trends. This company has been working with:

  • Several dozen institutions
  • Tens of thousands of public shareholders
  • High net-worth individuals
  • Independent advisory firms

While this is impressive, it’s not all. According to the company’s CEO, there are seven private banks and broker-dealers who have also been embracing Bitwise’s products on their platforms. These platforms also represent remarkable assets.

Hunter Horsley, CEO of Bitwise stated:

The platforms that over the last nine months or twelve months, it’s been recent and ramping [up], are approving our products to get crypto exposure. They represent $2 trillion in assets and tens of thousands of advisors and millions of accounts.”

Many have also taken this as a positive indication of Bitcoin’s price recovery soon. However, any real-time positive shifts in the market are yet to be seen. If you want to invest in BTC then make sure you choose the lowest fees Bitcoin exchange that suits your needs the most.

Few Important Tips for New Crypto Investors

As a new crypto investor, there are numerous details you need to know and consider before you start investing in Bitcoin or any other digital currency.

Since the crypto space is vast and volatile, you can also face some serious risks. These risks and complications can be reduced to a great extent if you know and follow some helpful tips mentioned below.

  • Opt for the largest Bitcoin exchange that ticks all the right boxes for you.
  • Monitor the price movement of the digital asset you want to buy.
  • Know when to invest.
  • Start by investing a small amount.

New crypto investors interested in buying Bitcoin can also click on SwissBorg or Kraken (U.S. citizens).

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