Canaccord Wealth UK Enters Crypto Market with Bitwise Partnership

Canaccord Wealth UK has announced its partnership with Bitwise Asset Management to introduce Bitcoin and Ethereum exchange-traded products (ETPs) to its high-net-worth clients.

The ETPs will be offered as a way for clients to gain exposure to the cryptocurrencies, but with a twist. The allocation cap is set at 5% of client portfolios, which is a cautious approach given the volatility of the crypto market.

This move makes Canaccord the first major UK wealth manager to offer managed crypto exposure, and it's seen as a significant step in the adoption of digital assets by traditional finance.