Ric Edelman, founder of Edelman Financial Engines, and Matthew Kolesky, president at Arbor Capital, discuss the state of Bitcoin adoption amongst financial advisors, who control $5 trillion in investor wealth. In this episode, they talk about:
- their background and why they got into crypto (1:25)
- how most RIAs (registered investment advisors) view digital assets and the hassle of buying crypto on a client’s behalf (8:59)
- what percentage of financial advisors have already invested in bitcoin and how many more will come into the space by next year (18:20)
- how RIADAC -- the RIA Digital Assets Council -- is educating financial advisors about crypto (21:59)
- their favorite methods to explain Bitcoin and other digital assets (25:22)
- the different ways financial advisors are getting bitcoin/crypto exposure for their clients (35:32)
- why RIAs use investment vehicles to purchase Bitcoin rather than spot-buying the actual asset (39:58)
- why GBTC is trading at a deficit to the bitcoin price and their thoughts on a bitcoin ETF (44:40)
- the percent allocation to crypto they feel comfortable with for their clients (54:26)
- how they rebalance crypto holdings, whether they use yield-bearing crypto products yet, and projections for 2021 (57:35)
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Episode links:
Ric Edelman
Matt Kolesky
Helpful Links:
- Bitwise ETF Trends + Survey of Financial Advisors
- Fidelity’s Bitcoin Investment Thesis
- RIADAC’s 12 Predictions for 2021
- RIADAC 1% Allocation strategy
- Arbor Capital’s “True Digital Asset SMA”
- Grayscale BTC Premium Flips Negative
- Blockchange
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