Grayscale Investments has partnered with Icapital Network, a provider of alternative investment products to financial advisors to offer its network of more than 6,700 advisors accesses to digital currencies investments.
According to an official announcement, Grayscale Investments has formed a partnership with Icapital Network to offer access to the former’s digital large-cap fund amid the growing demand of advisors and investors over digital currencies. The large-cap cryptocurrency fund is one of Grayscale’s most popular offerings as it provides protection from the volatility associated with digital assets.
The partnership will “offer Icapital Network’s more than 6,700 network advisors serving high-net-worth clients with access to digital currencies through a Grayscale diversified market-cap-weighted investment strategy.”
For the 6,700 advisors using the platform the deal makes it convenient for cryptocurrencies to add to their client's portfolios, serving as a “one-stop-shop” for alternative investments from selecting to managing investments, creating consolidated reports, and tracking tax documents.
Under the partnership, iCapital and Grayscale will also provide educational materials for advisors to educate on new cryptocurrency offerings. “It’s not just educating about Bitcoin, but it’s educating about other large-cap assets within the space,” says Celisa Morin, Grayscale’s vice president of platform distribution.
Lawrence Calcano, CEO of Icapital Network, said:
“Advisors and their clients have expressed increasing appetite for uncorrelated return potential in their portfolios, and digital currencies are at the center of the conversation right now.”
Grayscale Investments is the world’s largest digital currency asset manager with over $43 billion in assets under management (AUM) as of Sept. 9. The firm currently offers 15 crypto investment strategies, including six SEC-reporting investment products.
This is the first time a digital currency offering will be available on the iCapital platform. In addition to the new offering, iCapital gives advisers and their clients access to private equity, private credit, hedge funds, and other alternative investments to increase the diversification of portfolios.
In July, iCapital raised a new round of funding that pushed its valuation to $4 billion, enabling the firm to expand its alternative investment products and broaden its client footprint.