The mass adoption of digital assets continues despite the massive volatility that we can see in the crypto space. Check out the latest reports involving banks and their crypto exposure to clients.
Crypto mass adoption explodes
According to the latest reports, it’s been revealed that one of the world’s largest crypto index fund managers is offering some unique insight into the current state of crypto adoption.
In a new interview with Real Vision, Bitwise Asset Management CEO Hunter Horsley is addressing the types of investors and trends that the firm is witnessing as Bitcoin plows through a fresh bear market phase.
Besides working with thousands of self-directed high net worth individuals, tens of thousands of public shareholders of its publicly traded products, about 1,000 independent advisory firms and a few dozen institutions, Horsley made sure to explain that private banks and broker-dealers are beginning to take the plunge into the digital asset market.
“More recently, [there’s been] a really fascinating development just in the last, I want to say nine months. There are seven private banks and broker-dealers that have put our products on their platforms for their advisors and clients to be able to get access to the space.”
He continued and said the following:
“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.”
More than that, he also said that the number of institutional advisors who are working with the firm is exploding and this is happening at a rapid pace.
Other than this, the crypto market is trying hard to recover following recent losses. At the moment of writing this article, BTC is trading in the green and the king coin is priced at $19,685.