IGM Financial Inc., a 40-year-old Canadian wealth manager, could be next in line to launch Bitcoin and Ethereum services for its clients, suggested the company’s CEO, James O’Sullivan.
- Founded in 1978, IGM Financial is a large Winnipeg-based investment company with over $260 billion in assets under management.
- The firm’s Chief Executive Officer – James O’Sullivan – asserted in a recent interview that internal discussions have already begun in regards to adding the two largest cryptocurrencies in the array of available investment assets starting next year.
- Canada has already displayed a relatively open-minded approach towards the cryptocurrency industry with a clear set of regulatory rules proposed earlier this year.
- Additionally, the nation’s watchdog has greenlighted several spot Bitcoin ETFs, and investors showed an enhanced appetite for each.
- Most recently, EvolveETF – a local ETF provider – launched the first multi-digital asset exchange-traded fund, backed by Bitcoin and Ethereum.
- With the potential inclusion of IGM Financial, the number of giant organizations tapping into the cryptocurrency space could continue to amass.
- Some of the most recent examples include the former digital asset critic – Goldman Sachs – which launched Bitcoin Offerings for wealth managers, and Wealthfront, which provided crypto exposure to its clients through Grayscale.