One of the world’s largest brokerage firms, the Interactive Brokers Group, which enables online trading on stock and commodity exchanges, announced yesterday that registered investment advisers can now offer cryptocurrencies to their clients. This means that the billion-dollar capital, which previously did not have the opportunity, will have access to the covered markets, which could significantly boost mass adoption.
Interactive Brokers Group now offers exposure to cryptocurrencies
The cryptocurrencies that financial advisers around the world will now have access to are BTC, ETH, Litecoin and BTC Cash.
“RIAs (Registered Investment Advisers) will benefit from the ability to manage the positions of their clients from around the world in stocks, options, futures, bonds, mutual funds, ETFs and now also in cryptocurrencies from a single screen on a single platform with customizable reports. “
Interactive Brokers is a huge entity, ranked 1st in Barron’s Interactive Brokers with 5 stars out of 5 since February and has operated continuously in more than 135 markets in many countries and currencies since 1978. They provide services to individual investors, hedge funds, trading groups and financial advisers. Opening up the possibility of gaining exposure to cryptocurrencies is great news for the whole sector, as assets will certainly gain a lion’s share of this capital.
Allowing financial advisors to access cryptocurrencies, trade in them and manage them for their clients, puts digital assets on the same level of legitimacy as other asset classes, ie. stocks and commodities. Steve Sanders, executive vice president of Interactive Brokers, said adding cryptocurrencies to the portfolio was now a matter of course, adding that advisers wanted to recommend cryptocurrencies to their clients.
Sanders concluded, “Adding cryptocurrency trading underscores our ongoing commitment to providing advisors with the investment products and tools they need to successfully manage client portfolios and grow their business.” Cryptocurrency trading through Interactive Brokers is also available to US-based investment advisers. . Registered investment advisers there must be certified by the SEC. This means that the SEC allows it and can basically be called silent cryptocurrency support.
According to data from this summer, the company’s registered investment advisers manage assets worth $ 110 trillion for almost 61 million clients. It could be another tsunami that sends BTC to heights from which it may never return. In response to this report, the head of growth on the stock exchange Kraken Dan Held on Twitter aptly wrote: That’s huge.