Grayscale launches a suite of tools to popularize cryptocurrencies to financial advisors. The company is thus trying to anticipate an imminent mass adoption by Generation Y youth.
Grayscale puts on the teacher’s suit.
Grayscale Investments, the global leader in digital asset management, yesterday announced the launch of a series of educational resources for financial advisors and wealth managers.
The company that promoted the IPO of Bitcoin and Ether is now looking to take on a new challenge. It is a question of exposing the functioning of cryptocurrencies to financial experts.
“The Digital Currency Toolkit for Financial Advisors” is a collection of information that can be downloaded free of charge by clicking here.
In fact, the topics covered in the toolkit revolve mainly around the BTC. However, the basics are laid out to make it easier to understand other cryptocurrencies.
What is the point of this approach?
The expected result here is that convergence towards an era dominated by crypto-actives can take place in the best possible way for them.
Grayscale starts from the observation that investor interest in digital currencies is growing.
In addition to this, the results of a survey conducted by Cerulli Associates, a consultancy firm specialising in financial services, are also available. They indicate that in 25 years, in the United States, future generations will inherit $68 billion in assets.
Finally, a third and final analysis closes the loop. In a report published in November 2019, Edelman, a public relations and marketing consulting firm, mentioned that young people of generation Y would tend to invest in cryptos.
It was in this context that Grayscale decided that it had become essential for managers to be attentive to the changing investment preferences of their clients.
Grayscale promotes Bitcoin
In a webinar yesterday, Michael Sonnenshein, Managing Director of Grayscale Investments, and Tyrone Ross Jr., a financial consultant, explained the benefits of investing in crypto.
However, this was done with a particularly biased approach in favor of Bitcoin. Sonnenshein is said to have released statistical data placing the Grayscale Bitcoin Trust in fifth place in the ranking of the highest capitalization shares.
For his part, Ross would have specified that the beliefs of the consultants in the field of cryptomoney should not hinder the exercise of their mission of guidance.
“I don’t care if you think they’re shells or whatever, fine. But at least when the client comes to you, hey, I have some on Coinbase, you have to be able to give them a very clear answer as to why this is nonsense…” he said.
The question-and-answer session that closed the presentation allowed the audience to clarify some of the grey areas. However, we suspect the hardest part is yet to come.