Crypto Upstarts Face Hurdles Winning Older Investors from Wall Street Giants
• Crypto specialists like Ark Invest, Bitwise may struggle to attract assets from older, wealthy investors who prefer big brand names like BlackRock and Fidelity
• Advisor market with $33 trillion controls assets; they and their clients like established brands
• Strong middle class of ETFs will emerge with $200-$300 million in assets
• Only room for one "liquidity stud" that becomes the crypto version of GLD
• BlackRock's bitcoin ETF may appeal to investors who want an SEC-approved product from a trusted brand versus crypto native firms