Canaccord Wealth has made exposure to cryptocurrencies part of its tailored discretionary investment proposition for high-net-worth clients.
The new capability enables eligible clients to access exposure to crypto exchange traded notes (cETNs) within a discretionary portfolio.
In line with FCA guidance, the cETNs only provide access to the returns generated by bitcoin and ethereum.
Due to the volatility of cryptocurrency as an asset class, these will only be available in the firm’s highest risk profile portfolios, and be constrained by each risk profile’s relevant risk budget.
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Duncan Stratford, managing director, said: “As a fully integrated wealth manager, it is essential that we offer clients the full spectrum of investment and planning solutions.
“This development ensures that clients can gain exposure to cryptocurrencies, but within a carefully managed, diversified portfolio overseen by our investment professionals.
“Cryptocurrencies are highly volatile and the custody and transfer of digital assets can be complex.
“Our managed approach removes many of the operational and security burdens associated with direct ownership while ensuring that any exposure is appropriately risk‑controlled.”
