The top official of the financial advisory company, Betterment, revealed that the company is yet to decide whether the firm aims to introduce digital assets. Sarah Levy, the CEO, said that her firm was currently studying the expansion of its services, including the introduction of crypto tokens like Bitcoin. While talking at Bloomberg’s Wealth Summit, Levy further added,
if we can provide the right kind of context and advice, that it’s OK to participate in some of these newer asset classes.
She highlighted that the company has not yet decided anything in regard to crypto-assets. Launched amid the 2008’s financial crisis, Betterment, a prominent America-based platform, enables its investors to invest in stocks and bonds. Last month, it announced a major milestone as it recorded barely $10 billion in AUM in the first financial quarter of 2021. Plus, a 116 percent increase in its client base.
Earlier, the American firm also acquired neighboring Canadian firm WealthSimple, which introduced North America’s first regulated crypto exchange. Although Betterment continues to weigh its decision to introduce crypto assets, some major Wall Street players, including Morgan Stanley and Goldman Sachs, allowed their rich clients to invest in digital assets.
Besides that, the payment giant PayPal also revealed that the interest in crypto assets exceeded their expectations when they launched their first digital asset offering last year.