The number of massive wealth management firms eying a foray into the bitcoin space continues to expand.
IGM Financial Inc., 40-year-old Canadian wealth management, may be the next to provide Bitcoin and Ethereum services to its customers, according to the CEO of the firm, James O’Sullivan.
IGM Financial, founded in 1978, is a prominent Winnipeg-based investment firm with more than $260 billion in assets under administration.
James O’Sullivan, the firm’s Chief Executive Officer, said in a recent interview that internal conversations over the addition of the two major cryptocurrencies to the firm’s variety of possible investment assets beginning next year had already started.
Canada has already shown a rather receptive attitude toward the Bitcoin business by proposing a comprehensive set of regulatory standards early this year.
Additionally, the country’s securities regulator approved six spots Bitcoin ETFs, and investors have shown an increased desire for each.
Recently, EvolveETF — a local supplier of exchange-traded funds – introduced the first multi-digital asset exchange-traded fund backed by Bitcoin and Ethereum.
With the possible addition of IGM Financial, the number of large corporations investing in cryptocurrencies may continue to grow.
Recent examples include Goldman Sachs, a prominent skeptic of digital assets, launching Bitcoin Offerings for wealth managers, and Wealthfront, which provides crypto exposure to its customers through Grayscale.
Also Read: Bakkt Is Expanding Its Crypto Offering With The Addition Of Ethereum
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