Coinciding with Bitcoin’s 10th birthday, the financial advice firm is aiming to offer exposure to crypto to its clients.
Financial advice firm deVere has launched what is says is an actively managed cryptocurrency offering for its clients.
The deVere Digital Asset solution will invest in a diversified portfolio of digital assets via algorithmic trading over different platforms – including cryptocurrency exchanges and OTC markets - as well as arbitrage opportunities.
The wider deVere Group has also founded a dedicated team, the deVere Digital Asset Funds,to give investors a suite of digital currency solutions in association with Dalma Capital Management Limited, a hedge fund manager in the Dubai International Financial Centre.
Nigel Green, founder and CEO of deVere Group, says that cryptocurrencies are now “undeniably part of mainstream finance”.
“Their momentum continues to gain traction as both retail and institutional investors increasingly value the need and demand for digital, global currencies in today’s ever-more digitalised and globalised world," he said.
The crypto market, he adds, is continuing to expand considerably and predicts that mass adoption is “on the horizon”.
“These actively managed cryptocurrency solutions address growing demand by clients who want the potential associated benefits of exposure to the digital currency sector - which typically include portfolio diversification and decent returns - but with reduced volatility for which the market is known,” he said.
“When the price of one asset, for instance Bitcoin or Ethereum, is greater on one platform than on another, the opportunity is identified to generate profit from the difference of price across platforms. These trades, referred to as arbitrage, allow profits to be generated with little or no directional market risk.”
He adds: “Crypto Markets have created opportunities that we have not seen in conventional markets for decades. Arbitrage opportunities abound – the prices of the top 25 crypto assets vary across over 400 liquidity venues. The ability to trade long and short allows profit opportunities regardless of market direction.”