Onramp partnership opens door wider to crypto for advisors

Onramp partnership opens door wider to crypto for advisors
The TAMP for blockchain-based alternative investments now offers advisors access to a digital asset index.
MAR 01, 2024

Onramp Invest, the turnkey asset management platform dedicated to providing blockchain-based investments for RIAs, is giving advisors a new opening to invest in the world of cryptocurrencies.

The TAMP announced that users on its platform now have the ability to invest directly in the CoinDesk 20 Index, a benchmark for the burgeoning global crypto economy that tracks the performance of the world’s 20 leading digital assets.

“Advisors are experiencing strong client demand for comprehensive crypto strategies,” Eric Ervin, CEO of Onramp Invest, said in a statement.

Ervin took over the chief executive role in after former CEO Tyrone Ross suddenly left Onramp in 2022. The days after his departure were marked by turmoil at the firm, including the walkout of several board members and the company having to lay off employees as it faced a lack of capital.

With its latest move, Onramp is effectively taking a leadership position as the first US firm to provide investible access to the index, which is known for its focus on liquidity and balanced representation of the digital asset market.

“The CoinDesk 20 Index is intelligently designed and captures more than 90% of the digital asset market capitalization,” Ervin said. “We're thrilled to offer advisors another powerful index from CoinDesk Indices."

The CoinDesk 20 Index, which is currently trading via perpetual futures on the Bullish Exchange, implements a market-cap-weighted structure with specific concentration caps, including a 30% limit for its largest component – currently bitcoin – and a 20% limit on other components, such as Ether.

The CoinDesk 20 Index is offered by CoinDesk Indices, which has been a pioneer in digital asset benchmarks since 2014.

"We are thrilled to announce the launch with Onramp to provide advisors and their clients with the most liquid and tradeable industry benchmark for digital assets," said Alan Campbell, president of CoinDesk Indices.

Onramp is also offering advisors access to other CoinDesk Indices including the CoinDesk Market Select Index (CMIS), CoinDesk Defi Select Index (DFX), and the CoinDesk Currency Select Index (CCYS).

BlackRock’s partnering with Coinbase shows crypto can’t be ignored

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