40-year-old Canadian wealth manager may enter in crypto
IGM Financial Inc, a Canadian wealth management firm, could launch its Ethereum & Bitcoin services for their clients.
Recently, one of the experts of Bloomberg researched the interest of the financial money management firms and claimed that “money managers’ ‘ have a fear that they may lose their job, that is why they are considering going with the crypto inclined clients.
The research of Bloomberg’s experts seems 100% true and can be seen through the planning of a 40 years old wealth manager firm “IGM Financial Inc”. At present, IGM is managing around $260 billion worth of funds.
James O’Sullivan, CEO of IGM Financial, appeared in an interview and said that they have already started their initiative to consider the support for Ethereum & Bitcoin for their clients. And there are huge chances that two flagship assets will be available for their clients by next year.
Canada is a crypto-friendly region in the world. In the past, authorities in Canada showed a fully open plan for the crypto space regulation and a better framework to prove a better ecosystem for the crypto investors. And also, in the recent history of the crypto market, Canadian regulators approved many Bitcoin ETF products. This shows a very high degree of crypto-friendly behaviour of the Canadian watchdog.
Experts believe that the entry of IGM Financial in crypto will push other non-crypto services with rapid adoption.
Bitcoin ETFs key to adoption
If we talk about crypto in particular the United States, then we will find that after the approval of Bitcoin futures ETFs by the United States Securities and Exchange Commission (SEC), trade volume & crypto inclined users increased.
And also, we can see negative news over the crypto industry still not able to influence negatively. For example, a recent matter of $1.2 trillion infrastructure bill, which includes Crypto assets, negatively impact but failed to influence the market.
So, approval of the products by the government authorities and agencies is a sign of adoption at a better level. And also it is responsible for adoption by non-crypto institutions.
Read also: Swedish authorities proposal to restrict crypto mining
