Onramp Invest to provide the Separately Managed
Accounts (SMA) platform to Registered Investment Advisors (RIAs);
Gemini to serve as the trading platform and custodian
Ritholtz Wealth Management (RWM) and WisdomTree
(NASDAQ:WETF) today announced the launch of the RWM WisdomTree
Crypto Index designed to provide retail investors, via a
financial advisor, access and diversified exposure to cryptoassets.
The Index has been licensed to Onramp Invest and is available for
financial advisors using the Onramp technology platform to manage
separate accounts of clients.
The RWM WisdomTree Crypto Index, as presently constituted, is
made up of 36% BTC (Bitcoin), 20% ETH (Ethereum) and 4% each of 11
other cryptoassets that provide exposure to the broader crypto
ecosystem, spanning layer-1 networks (e.g., payment systems, smart
contract platforms), layer-2 protocols, oracle networks, crypto
indexing services, decentralized finance (DeFi), and the metaverse.
The constituents are intended to represent thematic investments in
diverse segments that advance crypto infrastructure and provide
necessary services.
“WisdomTree is an index developer and innovator at our core. Our
team is incredibly bullish on digital assets transforming financial
services. We’ve hired aggressively to build indexing infrastructure
and support for a crypto focused investment strategy,” said
Jeremy Schwartz, Global Chief Investment Officer at
WisdomTree. “In our view, this direct indexing implementation
of the RWM WisdomTree Crypto Index via Onramp Invest and Gemini is
the best assembled structure and diversified cryptoasset exposure
currently available to U.S. investors and particularly the RIA
community.”
The RWM WisdomTree Crypto Index will follow a modified market
capitalization weighted approach and allow the weights to fluctuate
in line with market movements. As new cryptoassets become eligible
for trading, custody and meet the standards of the Index, and the
market evolves, the Index Committee will review Index exposures
regularly. RWM’s leadership, including Josh Brown, Barry Ritholtz,
Michael Batnick and Ben Carlson, are personally invested in the
Index, along with several other of the firm’s financial advisors
and employees.
“The moment of mass adoption for digital assets, blockchain,
DeFi, metaverse and web3 technology has arrived. We consulted with
WisdomTree regarding the creation of the Index to provide our
clients with exposure to the asset class,” said Michael Batnick,
CFA®, Director of Research at Ritholtz Wealth
Management. “As wealth managers, we have a responsibility to
adapt our portfolios to this burgeoning opportunity. As
fiduciaries, we have an obligation to do so in a sensible way while
harnessing the benefits of increased diversification. Allowing the
investment community to access digital assets by tracking an index
strategy is an exciting chance for Ritholtz Wealth to have an even
broader impact.”
Onramp Invest, an integration platform that provides
access to cryptoassets for RIAs, will supply the SMA architecture,
rebalancing technology, and customer support for financial advisors
to seamlessly invest in the Index on behalf of their clients.
“Cryptoassets show great promise for financial advisors to add
value, to be compensated for it, and to do so in a way that can be
in line with their fiduciary responsibilities,” offered Eric
Ervin, Chief Investment Officer and Co-Founder at Onramp
Invest. “Our goal at Onramp from day one was to make this
possible. We’re excited to play a role alongside these brand names
facilitating seamless access to the space for their clients.”
Gemini’s unparalleled custody infrastructure and
crypto-native exchange will power the creation of the Index. With a
proactive approach to regulation and institutional-grade security,
Gemini is a best-in-class partner for wealth managers who want to
securely and compliantly offer crypto investments to their
clients.
“At Gemini, we are on a mission to empower the individual
through crypto—including the advisor community and their clients,”
said Kristen Mirabella, Director, Business Development at
Gemini. “Today’s announcement brings us one step closer to that
goal as we dramatically increase access to digital asset strategies
among wealth managers.”
For more on today’s news, listen to or watch the latest episode
of “The Compound and Friends,” hosted by Josh Brown and
Michael Batnick, as they welcome Jeremy Schwartz on the
show1 to discuss the launch of the RWM WisdomTree Crypto
Index.
See the important disclaimers and disclosures below.
About Ritholtz Wealth
Management
Ritholtz Wealth Management is a SEC Registered Investment
Advisory firm based in New York City that offers a full suite of
financial planning and asset management services to high-net-worth
households, corporate retirement plans, endowments and charitable
foundations. The firm's core principle is bringing value-added
investment and financial planning help to its clients as a fee-only
fiduciary advisor. For more information, please visit
ritholtzwealth.com and follow us on Twitter @ritholtzwealth.
About WisdomTree
WisdomTree Investments, Inc., through its subsidiaries in the
U.S. and Europe (collectively, “WisdomTree”), is an ETF and ETP
sponsor and asset manager headquartered in New York. WisdomTree
offers products covering equity, commodity, fixed income, leveraged
and inverse, currency, cryptocurrency and alternative strategies.
WisdomTree currently has approximately $76.4 billion in assets
under management globally. For more information, please visit
wisdomtree.com or follow us on Twitter @WisdomTreeETFs.
WisdomTree® is the marketing name for WisdomTree Investments,
Inc. and its subsidiaries worldwide.
About Onramp Invest
Onramp Invest is an integration platform as a service (iPaaS)
technology company providing access to cryptoassets for registered
investment advisers.
Onramp Invest’s comprehensive crypto asset management solution
enables advisers to help their clients safely, confidently, and
intelligently invest in the new age.
Learn more at onrampinvest.com, academy.onrampinvest.com and
follow Onramp on Twitter @Onrampinvest.
About Gemini
Gemini is a platform that allows customers to buy, sell, store,
and earn cryptocurrencies like bitcoin, ether, and DeFi tokens.
Gemini's simple, reliable, and secure products are built to empower
the individual. Gemini was founded in 2014 by twin brothers Cameron
and Tyler Winklevoss. To learn more about Gemini, visit Gemini’s
website Gemini.com.
______________________________ 1 This podcast is for
informational purposes only and should not be or regarded as
personalized investment advice or relied upon for investment
decisions. All opinions expressed by Josh and Michael are solely
their own opinion and do not reflect the opinion of Ritholtz Wealth
Management.
IMPORTANT DISCLOSURES
RWM is a consultant to WisdomTree as the
index provider for the Index and will receive fees from WisdomTree
related to such role. RWM may separately and without involvement
from WisdomTree act as an adviser to one or more clients pursuant
to written agreement between RWM and such client. WisdomTree has
licensed the Index to Onramp for use by advisers (including RWM in
such capacity) in managing separate accounts for their clients via
Onramp. Advisory services are only offered to clients or
prospective clients where Ritholtz Wealth Management and its
representatives are properly licensed or exempt from licensure. No
advice may be rendered by Ritholtz Wealth Management unless a
client service agreement is in place. To determine which
investments may be appropriate for you, consult your financial
advisor prior to investing. Any past performance discussed during
this program is no guarantee of future results. Investing involves
risk and possible loss of principal capital. Any past performance
discussed during this program is no guarantee of future results.
Investing involves risk and possible loss of principal capital;
please seek advice from a licensed professional. Current and
prospective clients should review a full list of risks and
disclosures here.
The information herein, including as relates to the Index,
should not be relied on and is not a substitute for the skill,
judgment and experience of the user, its management, employees,
advisers and/or clients when making investment, service provider
and other business decisions. All such information is impersonal
and not tailored to the needs of any person. None of the
information constitutes an offer to sell or a solicitation of an
offer to buy, any asset, financial product or other investment
vehicle or any trading strategy. Reference to the entities
described herein should not be considered a recommendation or
endorsement by WisdomTree of such entities. All users of the
information should conduct their own diligence using professional
advisors.
It is not possible to invest directly in the Index. Exposure
to the assets represented by the Index is only currently available
in the US through accounts managed by advisers, which may include
RWM in such capacity, for their clients that may be based on the
Index (collectively, “Index Related Accounts”). A decision to
invest in or per such Index Related Account should not be made in
reliance on any of the statements set forth in this document or
otherwise related information. Inclusion of a crypto asset within
the Index is not a recommendation to buy, sell, or hold such crypto
asset, nor is it considered to be investment advice or otherwise
express any opinion regarding any assets, instruments or trading
strategies.
There are risks associated with investing, including the
possible loss of principal. Crypto assets are complex, generally
exhibit extreme price volatility and unpredictability, and should
be viewed as highly speculative assets. Crypto assets present new
and different risks and considerations that may be unfamiliar to
advisers and/or investors, including in execution, trading, costs
and custody. An investor, together with an adviser, should conduct
diligence to, among other things, understand the crypto asset,
wallets or any other devices, software or trading platforms used to
interact with the crypto asset, blockchain network or relevant
network application, potential harm due to loss of private keys,
and the liquidity, volatility, complexity, execution, costs,
regulatory status (including tax implications) and risks of the
crypto assets, to ensure suitability in light of individual
circumstances and financial position.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211203005313/en/
StreetCred PR for Ritholtz Wealth Management & Onramp
Invest Will Ruben, for Ritholtz Wealth Management 847-208-8289
william@streetcredpr.com / ritholtz@streetcredpr.com
Allie Zendrian, for Onramp Invest 516-581-7202
allie@streetcredpr.com / onramp@streetcredpr.com
WisdomTree Jessica Zaloom, Head of Corporate
Communications & PR 732-513-5610 jzaloom@wisdomtree.com /
wisdomtree@fullyvested.com
Gemini Natalie Rix 401-835-0903
natalie.rix@gemini.com
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