It was a busy week for ETF launches with a wide variety of sectors covered, and geographies with launches in Brazil, Taiwan and Singapore.
A flurry of launch activity from VanEck this week brought us their space and future of food ETFs, plus their new CLO ETF, while the crypto winter, as the downturn in crypto asset prices is being called, brought a special crypto winter suite from 21Shares.
According to new research from London-based Nickel Digital Asset Management (Nickel), 69 per cent of professional investors predict over the next two years that wealth managers will come under growing pressure from their clients to offer advice and investment vehicles focusing on crypto and digital assets. Some 23 per cent expect clients to place considerably more pressure on them to do this.
John Wilson, Managing Director UK and Ireland at Avaloq, has commented on the need for a regulatory regime that enables digital asset innovation, in the context of the FCA’s consultation on strengthening financial promotion rules for cryptoassets.
Data from Boring Money reveals radical changes in the UK retail investor population over the last year. As many as 12 per cent of adults aged under 45 now report owning some crypto assets, double the same figure a year ago.
Plans to strengthen the rules on cryptoasset advertisements and protect consumers from misleading claims have been published by the UK government.
Recent research from ETF issuer WisdomTree revealed that over seven in 10 (72 per cent) of UK advisers have spoken to their clients about investing in cryptocurrencies, with almost half of clients (45 per cent) intending to step outside of their adviser relationship to allocate to the asset class.
Philippa Aylmer writes that between the start of 2021 and mid-October, just over GBP146,000 had been lost to cryptocurrency fraud, according to Action Fraud Fund, the UK’s national reporting centre for fraud and cybercrime.
Philippa Aylmer writes that with the HMRC starting to collate a database of cryptocurrency activities Chris Etherington, private client tax partner at RSM, discusses the tax issues that might affect those investing in cryptocurrency.