Blockchange Inc. Releases Major Upgrade of its Digital Asset TAMP for Financial Advisors
The New BITRIA Release 2.0 platform adds advanced features to streamline client onboarding and management, significantly reducing the friction for financial advisors who want to offer their clients access to bitcoin and other digital assets.
Blockchange Inc, the digital asset management platform for investment advisors, has announced a major new release of its BITRIA Digital Turnkey Asset Management Platform (DTAMP) to support rapidly growing interest in bitcoin and digital assets from financial advisors and their clients. The new release adds a slate of new features and expanded support for up to 32 digital assets.
Originally released in July 2020, BITRIA is the industry’s first digital asset TAMP, enabling RIAs to actively manage digital assets across their entire client base or within individual client portfolios. The platform is portfolio centric with support for multiple indexes and strategies, automatic rebalancing, and single click allocations, and provides portal access for clients to monitor and research their positions. Request a demonstration of BITRIA by visiting the company website.
Blockchange has also recently added support for SMA partners to the BITRIA platform. This means that financial advisors now have the choice to directly manage client accounts on the platform, or to outsource the client onboarding and management to SMA managers with more experience in digital assets. In all cases, client assets are custodied with Gemini.
The new BITRIA release adds features in two main categories:
For Blockchange SMA Partners managing client accounts for other firms:
- Simplified firm & client onboarding. SMA partners can seamlessly onboard and configure the details of the firms that they are sub-advising for. As clients are added, a fully digital signing process is facilitated between the SMA manager, the client’s advisor, and the end client.
- Unique insights and reporting capabilities for each of the SMA’s sub-firms. This includes sub-firm aggregate return details and asset allocations.
- SMAs can now leverage strategies across all of the firms they are sub-advising for and rebalance selectively on a firm-by-firm or individual basis.
- SMA partners can automatically bill directly through digital asset pipelines on the BITRIA platform. This capability can be managed on a per-firm basis and provides full customization and exception management for fee settings.
- Sub-firm access to client accounts, enabling the advisors that have engaged the SMA to monitor client account balances, pull performance reports, and download transaction history.
For All BITRIA Users (Both SMAs and Advisors directly managing client accounts):
- Advisors now have the ability to manage many different accounts per client: Individuals, Joint Tenants, Tenants in Common, Trusts, IRAs and Corporate Accounts.
- Pre-rebalance reporting, providing managers with estimated execution data on an individual asset basis across all accounts affected by a rebalance action. These reports can be downloaded and retained for compliance purposes as needed.
- The platform now also offers advisors the capability to offload model delivery to an outsourced CIO organization, such as Blockchange’s first OCIO partner, Columbia Advisory Partners.
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“Gemini is proud to be supporting Blockchange as their custody and exchange provider, ensuring an efficient way for RIAs and SMAs to scale to offer support for digital assets.” – said David Abner, Global Head of Business Development at Gemini.
This major product rollout was accompanied by support for additional assets on the BITRIA platform, including The Sandbox (SAND), The Graph (GRT), Enjin (ENJ), SKALE Network (SKL), 1inch (1INCH), Loopring (LRC), Bancor (BNT), and Filecoin (FIL). The addition of these new assets brings the count of total digital assets supported to 32, the industry’s broadest selection of digital assets available to the advisor community.
“With interest in digital assets skyrocketing in recent months, streamlining client onboarding and simplifying and enhancing firm and portfolio management have become mission-critical for advisers who want to provide clients with exposure to the asset class,” said Dan Eyre, CEO of Blockchange. “The new BITRIA release significantly upgrades the platform’s capabilities for SMA partners to efficiently manage client accounts across multiple firms. This is important because for most RIAs, engaging an experienced SMA partner is by far the simplest way to include digital assets in client portfolios, while enjoying the benefits of full asset ownership.”
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