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Crypto Challenges Facing Advisors: Morningstar Conference

Charles Paikert

27 September 2021

Perhaps it was for the best that SEC chair Gary Gensler was not on the “Advisors Guide to Crypto” panel at the Morningstar Conference in Chicago. The resulting fireworks may have been life-threatening.

While Gensler questions the “long-term viability” of crypto and disparages the “Wild West” aspect of the market, the Morningstar panelists, all enthusiastic crypto advocates, couldn’t disagree more.

“I don’t think there are meaningful existential risks may be digital gold. Another may be digital oil.”

The investment “game changer” for crypto would be a bitcoin ETF, according to Hougan. “ETFs plug seamlessly into the way advisors work,” Hougan said. “So many people are on the sidelines because there are no crypto ETFs. It would open up the wealth advisory market.”