And, as ETFs are a regulated investment product, with greater liquidity, this should offer some comfort to investors who are still wary of getting into crypto directly.
However, not even crypto-based ETFs have made the cut into most multi-asset portfolios, yet, although some manager believe one should "never say never".
Jean-Yves Chereau, partner at J Stern & Co, says even these products are not clear, simple and transparent enough to find a place.
He explains: "One of the key pillars of J.Stern & Co's investment philosophy is the delivery to clients of a clear, simple, and transparent investment process, and opportunities.
"So far, we have struggled to find any of those in the crypto asset space. Whether this could change over time is a question for the future."
Similarly, Ben Seager-Scott, head of multi-asset funds for Evelyn Partners, says crypto assets are not "realistically investible" yet - but could become so in the future.
According to Seager-Scott: "I would be wary about saying ‘never’ for any asset class, and famously JP Morgan’s CEO had to row back some rather acerbic comments about crypto currencies.
"That said, their current state doesn’t look anywhere near realistically investible for most multi-asset funds, with little fundamental basis for investment or much confidence in the investment characteristics they exhibit."
Seager-Scott adds: "However, as crypto assets mature they may become more investible, potentially as small positions within alternative allocations."
However, he says this will be a long time coming - especially after all the furore at the end of 2022.
Certainly advisers would agree that now is not the time to invest in crypto - and unless there can be proper regulation and standardisation of ways to value and assess crypto assets soon, the time to add such assets into portfolios will not come for a long time yet.
simoney.kyriakou@ft.com
