U.S. Regulatory Developments for Digital Assets: Implications for U.S. Wealth Managers

Report Summary

U.S. Regulatory Developments for Digital Assets: Implications for U.S. Wealth Managers

Absent a mature regulatory structure, financial institutions have been building an infrastructure to access digital assets with risk and compliance top of mind.

Wally Okby
Strategic Advisor
David Himmel

Boston, May 3, 2022 – Regional and global stakeholder interest in and curiosity about digital assets are growing across the financial services industry, even in the absence of a comprehensive U.S. federal regulatory framework. Recent announcements from the Biden Administration, coupled with impending bipartisan legislation, portend a promising shift to clarity for private individual clients, institutional clients, private banks, fintech challenger firms, asset managers, wealth managers, core private banking providers, chief investment officers, IT developers, governments, and global regulators.

This report evaluates the potential impact this new regulatory framework will have on the U.S. wealth management industry. It is based on analysis of publicly available sources, including regulatory filings, media reports, press releases, and company websites, supplemented by Aite-Novarica Group’s ongoing conversations with market participants and the authors’ expertise.

This 20-page Impact Report contains three figures and four tables. Clients of Aite-Novarica Group’s Wealth Management service can download this report and the corresponding charts.

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This report mentions Acorns, ARK Invest, Betterment, Bitwise Investments, BNY Mellon, Charles Schwab, Coinbase, Fidelity Investments, Global X ETFs, Goldman Sachs, Grayscale Investments, Interactive Brokers, Invesco, JPMorgan, MassMutual, Morgan Stanley, NYDIG, PayPal, ProShares, Revolut, Robinhood, Simplify Asset Management, SoFi, Stone Ridge Asset Management, Valkyrie Asset Management, VanEck, Viridi Funds, and Volt Equity.

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