Advisers increasingly keen to learn about crypto

Aussies are increasingly turning to their advisers for answers on crypto investment, but a majority of advisers feel unequipped to help, a recent survey revealed.

According to a survey by Monochrome Asset Management, while 77 per cent of advisers had received queries about crypto-asset investments from their clients, only 11 per cent felt equipped to answer.

Monochrome recently partnered with Lonsec to deliver a masterclass covering the most asked questions on crypto assets such as how to access them, how to keep the assets safely and how to integrate into clients’ existing portfolios.

In a statement on Wednesday (9 February), the pair noted that interest in crypto investments is growing among both advisers and their clients.

“Crypto assets is increasingly becoming one of the most commonly raised topics we get from advisers,” said Lukasz de Pourbaix, chief investment officer of Lonsec Investment Solutions.

“We understand that there is a great need for education around the asset class and how advisers can utilise [them] in their client’s portfolios.”

The masterclass comes a week after Lonsec Research rating its first crypto-related fund, the BetaShares Crypto Innovators ETF, with an “Investment Grade Index” rating. 

Earlier this month, the corporate regulator reported that crypto-asset adoption continues to grow.

In its quarterly update, chair Joe Longo said ASIC is committed to raising awareness on new and continuing regulatory obligations, including the growth of crypto-asset adoption.

“The adoption of crypto-assets by Australians seeking better investment yields continued to grow during the quarter,” Mr Longo said.

“Investor protection lay at the core of our actions and advice in this space.

“We worked with domestic and international counterparts to consider regulatory responses in this fast-shifting landscape and took the first steps towards regulating crypto-assets which underlie exchange-traded products.”