There is still a lack of traditional fund administrators taking on crypto assets – but that could change within months, according to a report from the professional services firm.
So far, most funds lean on relatively small fund administrators when it comes to NAV calculations for cryptoassets, PwC notes in its report, which is picked up in turn by news site Global Custodian.
All about to change
But more fund administrators are becoming ready to do the job, and could start working with clients already within months.
“Independent valuation is key in order to verify fund performance and to give investors, particularly institutional investors, peace of mind that their assets are being properly valued,” states the report.
Some already rolling
Reporting on PwC’s new survey, Global Custodian also refers back to a feature that the site itself produced last year. It gave away that several incumbents had entered the cryptoasset sphere, including Trident Trust, Apex Fund Services and Stonegate Fund Services.