Digital asset adoption seems to be exploding these days. Now, the latest move has been made by Wealthfront, according to the latest reports coming from Reuters.
The news agency just revealed that Wealthfront would start allowing clients to invest in cryptos later this year.
Crypto acceptance by mainstream finance
This is what the U.S. digital wealth manager said on Wednesday – this is the latest sign of growing acceptance of crypto by mainstream finance.
This massive move will begin this week when users will also be able to build their own portfolio from a range of ETFs vetted by the Wealthfront team, according to the official notes coming from the company.
Reuters also reminded their readers that Wealthfront is one of the largest digital wealth management firms known as “robo-advisers.”
It’s been revealed that the firm will also allow clients to choose from a range of socially responsible investing options.
The company did not mention the digital assets that would be available for their clients.
Wealthfront will support responsible investments
On the other hand, Dan Carroll, Wealthfront’s co-founder and chief strategy officer, said the following in an interview:
“Wealthfront will be the place to invest responsibly, not some Wild West arcade.”
He continued and said: “We can do it in a fiduciary way. We care what is in your best interests. We won’t let you put 100% of your portfolio in crypto.”
The amazing news comes amidst a massive explosion in the adoption of cryptos and the blockchain tech.
The popularity of Bitcoin and other digital assets is on the rise, and it was booming back in 2020 as well.
The fact that this has been happening in the middle of a global pandemic says a lot about the potential of cryptos.
Not too long ago, it’s been also revealed that Bitcoin will replace the current financial system. Check out our previous article in order to learn more details.