Investment giant Wells Fargo Investment Institute (WFII) has announced the addition of its latest investment product, offering crypto assets to its interested clients.
The platform will launch around mid -June, after going through a number of set processes.
Its president, Darren Cronk, described the development of the crypto market as having reached its 'maturity' and become part of the assets that can be invested.
Previously, WFII through its investment strategy report on 2020 linked crypto investments only to speculation rather than an actual investment.
Referring to the value of the crypto market which was once at $ 2 trillion before shrinking to $ 1.69 in the wake of unexpected news, Cronk stressed that crypto investing has its risks.
"For interested and qualified investors, it would be better if they could further diversify their portfolio holdings." he explained.
This crypto offering will be open to investors who have an annual income of over $ 200.00 or have a net worth in excess of $ 1 million.
WFII’s participation into the sector makes it the newest banking firm after Goldman Sachs, Citi and Morgan Stanley showed interest in the crypto market.
