Firm Serving 100,000 Wealth Managers Can Now Invest in Bitcoin Through NYDIG Partnership

SIMON partners with NYDIG to bring quality institutional custody to its clients and launches a training platform.

SIMON Markets LLC has entered into a partnership with New York Digital Investment Group LLC (NYDIG) where they will collaborate on a custody offering, providing features such as bitcoin-backed borrowing, reported business thread. SIMON’s wealth managers serve clients with over $5 trillion in total assets.

SIMON will benefit massively from NYDIG’s integrated solutions to provide its clients with institutional-grade custody and execution services. This new partnership will give wealth managers the confidence they need to dip their toes into the bitcoin space and be able to offer their clients the modern products and advice they demand.

The announcement also heralded the launch of a bitcoin education platform specifically designed for wealth managers. As well as an “innovative approach to product access through passive private investment vehicles” which is expected to arrive in the near future.

“Our partnership with SIMON will give many advisors new access to bitcoin for the first time, allowing them to safely and seamlessly integrate bitcoin into alternative asset allocations through the management experience of SIMON’s premier holistic heritage,” commented NYDIG CEO Robert. Gutman. “As market demands for more clarity around bitcoin, advisors will play an increasingly critical role in helping clients invest safely, and putting in place the regulatory mechanisms to make this possible is the first stage.”

NYDIG made a survey with the results indicating that 82% of clients today expect their advisors to be knowledgeable about bitcoin. With 62% of clients saying they would switch advisors to gain this knowledge, the demand for bitcoin education is showing.

“There’s a reason financial institutions are making bitcoin more readily available to customers, and a reason they choose to partner with NYDIG – a leader in cutting-edge research and technology,” said Jason Broder, CEO of SIMON. “SIMON is excited to leverage NYDIG’s tremendous experience to build transparency around an emerging asset class that has tremendous potential in portfolio construction. Our ambition is to expand the reach of digital assets, which starts with education. »

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Dolores W. Simon