Fidelity, UBS and State Street can start cryptocurrency products – Bits Media

Several large investment companies, Including Fidelity, UBS и State Street Global Advisors, examine the possibility of launching cryptocurrency products.

Financial Times notes, that the volume of cryptocurrency investment products in Europe is more 10 billion euros. Chapter SPDR, subsidiary State Street Global Advisors in trade in exchange funds in European markets, Middle East and Africa, Matteo Andreetto (Mateo Andreetto) told, that the company is actively exploring the cryptocurrency space.

“Clients ask not just the possibility of investing in cryptocurrencies, but starting your own SPDR product. They value our reliability and safety ", - said Andreetto.

The representative of Fidelity also announced interest in cryptocurrency space. At the same time, the company has a subsidiary Fidelity Digital Assets, specializing in digital assets.

“Cryptocurrencies are that area, which now needs to be studied. But at the moment, we have not decided to launch any product ", - said the head of the department for work with ETF UBS Asset Management Clemens Reuters (Clemens Reuter).

Representatives of companies note the difficulties, related to the entry into the cryptocurrency market. The sphere is not sufficiently regulated, And yet not too well developed. Clients of large investment companies need the highest level of security and the development of such solutions takes a long time.

Hose Garsia-Sarate (Jose Garcia-Zarate), Deputy Director for Passive Strategies in MorningStar, expects a large number of new cryptocurrency products in the coming months. According to him, Now it is a popular trend among investment companies, Truth, He is not too sure of the need for such products. He warned investors, that it is necessary to carefully approach investments in such funds and products.

As it were, According to MorningStar, For the latter 12 months income of cryptocurrency investment products in the European market on average amounted to 461%. Over the past three years, the average income has reached 116%.

Earlier, the cryptocurrency enthusiast and founder of Morgan Creek Digital Anthony Pompliano said, that it is precisely the institutional investors that will spur the adoption of cryptocurrencies and the introduction of digital assets in all industries.