Ethereum’s popularity among wealth management firms is rising. The world’s second most valuable digital asset has become an integral part of global institutional investment portfolios. Keeping the rising demand in mind, Flourish recently announced its support for direct Ethereum investing through Flourish Crypto, a prominent cryptocurrency investing solution developed for registered investment advisers (RIAs) and their clients.
Moreover, Flourish has also increased its compliance resources. The company collaborated with Perkins Coie LLP for the release of a whitepaper that highlights key regulatory and compliance considerations for RIAs looking to engage with cryptocurrencies. Since its launch in September 2021, Flourish Crypto has attracted dozens of RIAs. The company highlighted a consistent rise in demand for Ethereum during the latest announcement.
“We’re seeing RIA demand evolve at an incredible pace. When we began discussing crypto with RIAs last year, advisor interest was overwhelmingly limited to bitcoin—and only for a limited number of clients,” said Ben Cruikshank, Head of Flourish. “Today, the majority of RIAs we speak with are interested in both Bitcoin and Ethereum, with many firms looking for tactical regulatory and compliance support. Forward-thinking RIAs don’t have to wait any longer; the tools and resources they need to bring cryptocurrency investing into their practice are available today.”
Ethereum’s Institutional Inflows
According to the recent digital asset weekly fund flows report published by CoinShares, Ethereum investment products attracted a total of $23 million worth of institutional investment, its 5th consecutive week of inflows. The total value of global ETH assets under management crossed $18 billion last week.
In the press release, Flourish outlined the importance of regulatory and compliance needs in today’s crypto market. “Flourish previously announced a partnership with Compliance Solutions Strategies (CSS) which further supports RIA compliance needs with compliance resources and expertise. Beginning next week, CSS will provide RIAs that sign up with Flourish Crypto with complimentary access to a comprehensive compliance packet,” the company added.
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