LONDON: Most wealth managers and financial advisors are still in"education mode" on cryptocurrencies but demand for the emerging asset class among larger investors has grown, the boss of Fidelity Investments' institutional arm said on Tuesday.
Durbin's comments give a snapshot of interest in cryptocurrencies at Boston-based Fidelity, whose US$9.8 trillion in customer assets as of Dec. 31 make it one of the world's biggest investment managers, amid heightened interest in digital assets.Bitcoin powered to an all-time high of nearly US$62,000 this month, the latest in a meteoric rise fuelled by bigger US investors.
In 2018, Fidelity became one of the first mainstream investment firms to embrace cryptocurrencies, setting up a unit that offers cryptocurrency custody and other services for financial firms and corporations.
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