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Wealth Managers Confess to Being Deluded by Crypto Fever, Proceed to Lose Clients’ Money Anyway

A  wealth manager sits at a desk surrounded by stacks of worthless coins with Bitcoin logos falling from above, while in the background a cityscape burns as people flee.

The Cryptocurrency Circus Continues: Wealth Managers Jump On The Bandwagon Of Foolishness.

Source: cointelegraph

Wealth advisers are adopting Bitcoin exchange-traded funds at an unprecedented rate, faster than any previous ETF in history, according to Matt Hougan, chief investment officer at Bitwise.  The surge is primarily driven by financial advisers such as registered investment advisers and large firms like Morgan Stanley. BlackRock’s iShares Bitcoin Trust ETF alone has attracted $1.45 billion in flows from wealth managers.  Asset management firms are also looking to offer diversified […]

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