Mid-Sized Asset Managers Wary of Bitcoin Despite Growing Wall Street Acceptance

Many mid-sized asset managers remain skeptical of bitcoin, despite endorsements from major players like BlackRock
Some call bitcoin an "extractive bubble" and wealth transfer mechanism with no inherent value
Firms like Simplify offer bitcoin exposure due to client demand, even if they are personally skeptical
Banks like Goldman Sachs don't see bitcoin fitting into investment portfolios or client demand
Other asset managers aren't yet forced to consider crypto given lack of client interest and their existing investment focus