Do You Include Cryptocurrency in Portfolio Construction?

The SEC's approval of spot price Bitcoin ETFs signaled regulatory acceptance of Bitcoin as a legitimate asset and made it easly accessible to millions of American consumers.  While we do not proactively include Bitcoin in client portfolios, we believe it is important to raise awareness of its potential role in client portfolios. We defer to clients' wishes as to whether it should be included or not.  We are less sanguine on other cryptocurrencies (including Ethereum) as it is not clear that any have achieved significant network effects.