Ramaswamy’s Strive launches wealth management arm offering Bitcoin to clients

November 4, 2024 Coin Telegraph

Qatar Financial Centre Activates Digital Assets Lab

September 17, 2024 Bitcoin.com

HashKey launches wealth management service, citing ‘significant’ demand

April 14, 2023 Coin Telegraph

bsg

Hong Kong’s HashKey recently received a number of licenses from local regulators, allowing it to expand its range of products and services.

Hong Kong-based digital asset firm HashKey Group has launched a new wealth management platform geared toward professional and institutional investors.

In an April 14 announcement, HashKey cited “significant demand from investors to access virtual assets” as the reason for its move into the wealth management space.

Deng Chao, the CEO of the group’s venture capital arm, HashKey Capital, said the service allows it to offer solutions to help tap into the “growing opportunities of virtual assets.”

HashKey pointed to a 2022 study from consultancy firm Boston Consulting Group, which found 0.3% of individual wealth is invested in crypto compared to the 25% invested in equities.

*A screenshot from BSG’s 2022 report highlighting the growth potential for crypto. Source:* *BSG*

It claims this signals there is “potential robust demand for virtual assets in the future,” a sentiment that was shared by BSG when it initially published the report.

On Sept. 13, HashKey announced that it had been granted a “Type 9 asset management license” by Hong Kong’s Securities and Futures Commission, allowing it to manage portfolios that only contain virtual assets and likely paved the way for its latest offering.

In the latest announcement, HashKey also noted that “recent challenges in the crypto market have highlighted the need for deep and reliable liquidity.”

In response, HashKey said it would be expanding its over-the-counter trading service by expanding the number of tokens in its spot market and increasing its liquidity coverage to 24/7.

On Jan. 17 HashKey closed a $500 million investment round for a fund that it plans to use to help push for mass adoption of blockchain and crypto technologies.

We're delighted to share that @HashKey_Capital successfully closed its Fund III, having raised a total of $500 million.

The Fund will be deployed to advance global #crypto and #blockchain initiatives, focused on building and scaling the #Web3 ecosystem.https://t.co/qjq3ur0N7F
— HashKey Group (@HashKeyGroup) January 17, 2023

Cointelegraph contacted HashKey for comment but did not immediately receive a response.

Asia Express: Bitcoin glory on Chinese TikTok, 30M mainland users, Justin Sun saga

How to set and achieve your financial goals

March 2, 2023 Coin Telegraph

budgeting

Set achievable financial objectives and use effective strategies to track progress and achieve success.

Before setting a financial goal, it’s important to have a clear understanding of your current financial situation, including income, debt, expenses and assets. Once you have a clear understanding of your current financial situation, you can start setting financial goals that align with your values and priorities.

Here are six steps to set and achieve your financial goals.

Define your financial goals

Set both short- and long-term financial goals as your first step. Your objectives should be specific, measurable, achievable, relevant and time-bound (SMART). One’s short-term objectives might be, for instance, saving $500 for an emergency fund or paying off $1,000 in credit card debt within the next six months, while their long-term objectives might be setting aside $10,000 for a down payment on a home or investing $100,000 for retirement within the following 10 years.

In crypto it’s important to have SMART goals.

After that, make a good game plan, take action, re-evaluate and assess your progress.

It may seem simple, but only a focused and perseverant mind will get it done.
— mBMN.eth (@m_BMN_) July 4, 2022

Similarly, in terms of crypto, one’s short-term objectives might be to purchase a specific quantity of Bitcoin (BTC) or Ether (ETH) within the next three months, whereas their long-term objectives might be to hold a specific quantity of a particular cryptocurrency for an extended period of time.

Develop a plan

Create a strategy to achieve your goals after you’ve defined them. This strategy should outline the precise steps you’ll take to accomplish your objectives. For instance, if your goal is to buy a certain amount of BTC within the next three months, your plan may include researching and choosing a reputable crypto exchange, setting up a crypto wallet and regularly monitoring the price of Bitcoin to make an informed purchase.

Track your progress

To determine whether you are on track to achieving your financial objectives, monitor your progress frequently. This will assist you in identifying any areas where your plan might need to be modified.

Stay disciplined

Staying disciplined is crucial when it comes to achieving financial goals. Stick to your plan and avoid any unnecessary spending that could derail your progress.

Be flexible

Be prepared to adjust your plan if necessary. Because life can be erratic and unforeseen costs occasionally appear, you might need to modify your plan.

Celebrate your success

When you reach your financial objectives, congratulate yourself on a job well done. This will encourage you to keep striving for your upcoming objective.

Related: Why do we need cryptocurrencies?

Strategies to set financial goals using cryptocurrencies

Here are some strategies for setting financial goals using cryptocurrencies:

Determine your investment goals and risk tolerance: Prior to investing in cryptocurrencies, make a decision regarding your financial objectives and risk tolerance. As a result, you may select the appropriate digital currencies and minimize risks.
Research and analyze the potential risks and rewards of investing in cryptocurrencies: Choose your financial goals and risk tolerance before investing in cryptocurrency. Then, select the suitable digital currencies that match your risk-return profile, lowering risks.
Create a diversified portfolio of cryptocurrencies: Avoid putting all your eggs in one basket by investing in a diverse range of digital currencies. This spreads the risk and protects you against market volatility.
Set realistic short-term and long-term financial goals: Establish short- and long-term, attainable financial goals and objectives. This keeps you motivated and engaged while keeping track of your advancement.
Stay informed about the latest news and developments in the crypto market: Follow the most recent market news and happenings to stay informed. This assists you in making judgements that are based on market trends and new prospects.

Being a #??? maxi is like putting all your eggs in one basket, then jumping up and down with excitement every time the basket moves. Remember, diversity is the key to success in any investment strategy. #Cryptocurrency #Investing #blockchain #crypto
— ᙢinus ᙡells (@MinusWells) February 20, 2023

Before investing in cryptocurrencies, it is essential to understand the risks involved and make informed decisions based on your risk tolerance and investment goals. Precaution is necessary with any investment asset, including cryptocurrencies, because investments always carry some degree of risk. Assessment helps investors minimize potential losses and maximize returns.

71% of high net worth individuals have invested in digital assets: Survey

June 16, 2022 Coin Telegraph

Capgemini

A new survey suggest most of the world's wealthiest have invested in digital assets and wealth management firms have been advised to prioritize providing education and advice.

High net worth individuals (HNWI) have embraced cryptocurrencies and other digital assets, with 71% of wealthy individuals investing in digital assets according to a new survey.

Technology consulting company Capgemini released its 2022 World Wealth Report on June 14. It polled 2,973 global HNWIs, with 54% reporting a wealth band ranging from $1 million to $30 million and 46% reporting wealth of $30 million and over.

The survey asked about investment preferences for emerging asset classes such as digital assets, classifying them as cryptocurrencies, related exchange-traded funds (ETFs), non-fungible tokens (NFTs) and metaverse-related products.

Of the roughly one in seven wealthy individuals investing in digital assets, the highest concentration were under 40. More than nine in ten in this age group have invested in digital assets. The younger cohort said cryptocurrencies are their favorite investment, with crypto ETFs and metaverse products also highly desired.

Crypto does not make up the majority of portfolios however and on average, HNWIs have only allocated around 14% into “alternative investments” which includes crypto alongside commodities, currencies private equity and hedge funds.

Capgemini observed, however, the wealth management industry is seeing an influx of investments into digital assets and this has “increased the demand for educational capabilities.”

Nilesh Vaidya, the firm's head of retail wealth management said:

“The influx of new investment avenues such as sustainable investing and digital assets is having a crucial impact on the wealth management industry. Wealth management firms must prioritize providing timely education around this trend to retain their customers.”

Some firms are already clued into this trend and are wanting the first-mover advantage into this niche sector by launching investment products targeted at the demographic.

Investment bank Morgan Stanley introduced exposure to Bitcoin (BTC) for its millionaire clientele in March 2021 with only those holding $2 million or more in capital able to invest.

Private banking clients for BBVA Switzerland were also given access to crypto trading and custody services, along with a similar offering from Wells Fargo in 2021.

The report comes after earlier research by Accenture which revealed 52% of wealthy investors in Asia held some form of a digital asset during the first quarter of 2022 making up, on average, 7% of the surveyed investors’ portfolios.

Similarly, Accenture also found that wealth management firms have been slow to adopt investment products with cryptocurrency or digital asset exposure, with a majority saying they have no plans to offer related services.