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IPFS News Link • Bitcoin

Financial Advisors Managing $110 Trillion Can Now Offer Crypto Trading to Clients via Interactive...

• by Kevin Helms

Registered Investment Advisors Can Now Offer Cryptocurrencies to Clients

Global investment firm Interactive Brokers Group (Nasdaq: IBKR) announced Monday the launch of cryptocurrency trading for registered investment advisors (RIAs) in the U.S.

This offering will enable RIAs to "trade and custody bitcoin (BTC), ethereum (ETH), litecoin (LTC) and bitcoin cash (BCH) via Paxos Trust Company on behalf of clients." They will be able to manage their clients' crypto holdings alongside traditional investments, including stocks, options, futures, bonds, mutual funds, and exchange-traded funds (ETFs).

Nearly 14,000 investment advisors registered with the U.S. Securities and Exchange Commission (SEC) have reported nearly 61 million clients in 2020, according to a joint study by the Investment Adviser Association and National Regulatory Services. Both numbers are new highs for the industry. In addition, the industry has approximately $110 trillion in total assets under management.