Crypto investment: ‘We haven’t even scratched the surface’

While he has seen openness among firms to adapt and accommodate cryptocurrencies, the pace of progress across the industry is uneven to say the least. In the meantime, advisors are left looking for any opportunity they can seize to provide crypto exposure to their clients. Spot crypto ETFs, which put crypto in a regulated structure that’s eligible for Canadians registered accounts, have been a lifesaver in that respect.

“Our regulators in Canada have shown that they’re by far the most advanced globally to actually protect clients’ interest by effectively opening the door for clients to get access to a spot crypto in safe and convenient way,” Tasevski says.

Even if advisors already have a means to provide crypto exposure at their disposal, that still leaves the challenge of deciding how to actually allocate crypto in clients’ portfolios. At the moment, Purpose offers spot ETFs for bitcoin and ether, the two largest cryptocurrencies by market cap. But as Tasevski notes, those are two very different types of assets.

“Education is going to be very important. The space is evolving at a breakneck pace,” Tasevski says. “Firms who offer crypto ETFs will have to meaningfully step up their educational efforts.”

According to Tasevski, Purpose offers a lot of education broadly around crypto to help advisors understand the space and recent developments. In line with that, the firm recently launched Purpose Crypto Corner on its website to provide dedicated educational content resources. But beyond that, he says advisors’ own research departments also have to provide informational support, similar to what’s already available for traditional asset classes like fixed income and equities, as wealth firms become more comfortable around crypto assets.


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