The new capability – available for general investment accounts and ISAs – enables eligible clients to access managed exposure to Crypto Exchange Traded Notes (cETNs) within a discretionary portfolio. In line with guidance from the Financial Conduct Authority (FCA), the cETNs only provide access to the returns generated by bitcoin and Ethereum.

Due to the volatility of cryptocurrency as an asset class, these will only be available in the wealth managers highest risk profile portfolios, with exposure limited by the constraints imposed by each risk profile’s relevant risk budget.

“As a fully integrated wealth manager, it is essential that we offer clients the full spectrum of investment and planning solutions,” Duncan Stratford, managing director, said. “This development ensures that clients can gain exposure to cryptocurrencies, but within a carefully managed, diversified portfolio overseen by our investment professionals.”

“Cryptocurrencies are highly volatile and the custody and transfer of digital assets can be complex,” Stratford continued. “Our managed approach removes many of the operational and security burdens associated with direct ownership while ensuring that any exposure is appropriately risk-controlled. For our high net worth clients in particular, this strengthens our ability to offer a broader, modern investment toolkit within a disciplined and diversified framework.”

“As retail adoption of new asset classes accelerates, there is a clear opportunity for Canaccord Wealth to introduce a discretionary route for high net worth clients seeking exposure to this area as part of a balanced, long-term portfolio,” he added.