{"id":209597,"date":"2021-03-24T13:36:17","date_gmt":"2021-03-24T10:36:17","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/most-asset-managers-still-in-education-mode-on-crypto-says-fidelity\/"},"modified":"2021-03-24T13:36:17","modified_gmt":"2021-03-24T10:36:17","slug":"most-asset-managers-still-in-education-mode-on-crypto-says-fidelity","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/most-asset-managers-still-in-education-mode-on-crypto-says-fidelity\/","title":{"rendered":"# Most asset managers still in \u2018education mode\u2019 on crypto, says Fidelity"},"content":{"rendered":"

“# Most asset managers still in \u2018education mode\u2019 on crypto, says Fidelity <\/strong>”
\n<\/p>\n

Michael Derbin, head of Fidelity Institutional, thinks that many wealth managers and financial advisors still lack the requisite in-depth knowledge when it comes to digital assets.<\/p>\n

Whereas some wealth managers are by now \u201csophisticated\u201d and \u201ccomfortable\u201d with cryptocurrencies and their underlying technology<\/a>, he said, many others lag behind. In an interview<\/a> at Reuters Digital Asset Week, Derbin noted:<\/p>\n

\u201cThey know what they are doing, and more importantly their end investor base also knows what they are doing \u2014 but the vast majority are still in the education mode.\u201d<\/p><\/blockquote>\n

Fidelity Institutional\u00a0is a division of Fidelity Investments, whose\u00a0$9.8 trillion in client assets (as of the end of 2020) make it one of the world’s top investment managers. It has also been one of the first to take cryptocurrencies seriously, launching a\u00a0subsidiary focused on the new asset class back in fall 2018.\u00a0<\/p>\n

While the knowledge gap remains among financial managers, Derbin stressed that demand for digital assets among larger investors has increased. Tesla\u00a0and\u00a0Bank of New York Mellon\u00a0are just two of the latest household names to venture into the crypto space, during the course of a historic bull season for Bitcoin (BTC). Over the past year, the top cryptocurrency has soared in value by over seven-fold and was trading as high as $61,200 earlier this month.<\/p>\n

Back in October 2020, Fidelity Digital Assets published a report forecasting that\u00a0heightened institutional interest could expand Bitcoin\u2019s market capitalization by hundreds of billions of dollars in the near future, and argued that portfolio managers could significantly increase their returns by allocating a portion of their holdings to Bitcoin.<\/p>\n