The digital asset revolution

The crypto crash has not deterred well known fund managers from expanding into their businesses into the digital world. Several have announced plans recently. Some will offer funds in tokenised form. Others believe that digital tech breakthroughs will transform how funds are traded.

In the last few months Abrdn has bought a stake in the UK digital assets exchange, Archax. BlackRock has announced plans for a Bitcoin trust for institutional investors. It has also agreed to link its Aladdin technology to the Coinbase crypto exchange. Schroders has bought a stake in the digital asset manager Forteus. Charles Schwab has launched a synthetic ETF giving investors exposure to crypto-currencies without actually owning them. And Fidelity has added a Bitcoin option for users of its retirement accounts.

Except for Fidelity, whose announcement dates back to April, all these managers made mention of their plans for the first time since the crypto crash. Of course, in most if not all cases, these fund managers had been working towards what they have announced well before the carnage of the spring. But it is notable that no one has shelved anything or even postponed their plans.

To read more on this story see the August issue of The NED.