The SEC just opened a door that could funnel a slice of $100 trillion in managed funds into crypto, and the race to decide which coins get in first has already begun.
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
The SEC has introduced a proposed crypto custody rule that may allow registered investment advisers to directly hold Bitcoin (CRYPTO:BTC) and other cryptocurrencies for their clients. Given that these advisers manage over $100 trillion, even a small shift toward crypto could channel significant funds into the market.
Until now, most investment advisers have refrained from buying Bitcoin in managed accounts because of strict custody…
