Canadian Investment Giant IGM Could Launch Bitcoin and Ethereum Products in 2022
6 Nov, 2021•1 min read•Bitcoin
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.