Wells Fargo Crypto Investment

A Wells Fargo Crypto Investment Solution Will Soon Be Available To Clients After The Company Changes Its Mind On Crypto

Wells Fargo Crypto investments will soon be possible via a “professionally managed solution” for clients. Darrell Cronk, the president of Wells Fargo Investment Institute (a subsidiary of Wells Fargo Bank), said:

We think the cryptocurrency space has just kind of hit an evolution and maturation of its development that allows it now to be a viable investable asset.”

Cronk did maintain though that with potential regulations on the horizon, there are other considerations they will look to take into account for clients. The solution will also only be available to clients who qualify and have an interest:

“There’s a whole element of consumer protections and regulations that have to still evolve with the changing landscape. So we’re not without risk, it’s just that we think there can be a viable investable option for those clients who show an interest.”

Previously the company had been concerned about a lack of regulatory framework around Cryptocurrencies, but with reports that this may be coming, it appears to have led to Wells Fargo changing their mind and wanting to provide interested clients with a Crypto investment solution. 

The professionally managed option for Wells Fargo Crypto investment is in its final stages of planning and the solution is expected to be available to clients from mid-June this year.

Some people have speculated that the likes of the Wells Fargo Crypto investment announcement could have had something to do with the severe Crypto dips of 19, May 2021. They suggest they were manufactured to allow whales and institutions to buy the dip aggressively – as a “flash sale” of Bitcoin… These are rumors and unfounded…

What do you think about the Wells Fargo Crypto investment solution? Another sign that Crypto cannot be stopped now and the adoption just keeps on ramping up? Let us know in the comments below.

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