The new product allows advisors to manage their client’s bitcoin positions as well as access educational content for clients new to crypto.Read MoreCoinDesk
Bitcoin financial services firm Swan Bitcoin is releasing a new product that’s targeting TradFi.
Called Swan Advisor Services, it provides a platform for financial advisors to allow clients to purchase bitcoin, the firm said Wednesday.
Managing Director of Swan Advisor Services Andrew Edstrom told CoinDesk that its latest product expands its reach to institutional clients and investors looking to step into crypto.
“Most advisors are still getting up to speed on [bitcoin] in terms of their research and their knowledge of it. This is really an untapped market,” Edstrom told CoinDesk.
Swan Advisor Services users can transact and manage their clients’ bitcoin positions on the platform, as well as access educational content to help onboard clients new to crypto. All tokens are custodied by crypto firm Prime Trust.
Swan has been bolstering its suite of bitcoin products to make investment opportunities accessible to both crypto natives and crypto-curious investors. In March, it teamed up with Prime Trust to support its crypto retirement product, while in May, it kicked off the Bitcoin Benefit Plan to provide bitcoin bonuses to employees of participating companies.
The traditional finance world has been moving into crypto primarily through bitcoin (BTC) investments; however, Ethereum’s upcoming Merge may push tradfi into crypto through ether (ETH)-based products. Swan only offers bitcoin products, and Edstrom told CoinDesk that he views the Merge as an event that will make it easier for investors to differentiate between bitcoin and ether.
“There’s likely to be a very large component of the advisor space that realizes that bitcoin makes a lot more sense for their clients than Ethereum or than a basket of assets,” Edstrom said.
Swan has already onboarded five advisors to its product ahead of its release date. One of those advisors, Isaiah Douglass, partner at Vincere Wealth Management, told CoinDesk in an email that he believes institutional adoption is well on the way, and he hopes to help onboard his clients to the asset.
“Bitcoin is ultimately going through the monetization process and I believe it will be the choice of money worldwide in my lifetime,” said Douglass.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Data from several on-chain indicators suggests demand from retail investors has finally returned following the…
The potential deployment on a Bitcoin layer-2 by the largest DeFi lending protocol highlights the…
Bitcoin's price has now corrected approximately 6% since the all-time high break on Nov. 13.Read…
Bitcoin has continued its bullish momentum streak, reaching a new all-time high on November 13…
Data shows Dogecoin and other meme coins are receiving a significant amount of attention on…
Shares in Trump media experienced a similar dynamic before the recent price slide.Read MoreCoinDesk: Bitcoin,…