Wells Fargo Investment Institute is reportedly having plans down its pipeline to set up an investment tool catering to its wealthy customers. 

Specifically, Wells Fargo’s president Darren Cronk reportedly shared the firm’s pro-attitude towards the maturity level of the crypto sphere and is ready to establish its presence across the sector. 

The research division of Wells Fargo Wealth & Investment Management – which is in charge of supervising nearly $2 trillion in assets – is reportedly working on the evaluation and onboarding of its digital coins investment platform for qualified investors.

The platform is reportedly scheduled to be rolled out by approximately the middle of June, following the last phases of the due diligence process.

“We think the cryptocurrency space has just kind of hit an evolution and maturation of its development that allows it now to be a viable investable asset,” Cronk reportedly remarked. 

As recently as December last year, Wells Fargo Investment Institute is reportedly still showing their hesitation in making any moves throughout the crypto industry, with its head of real asset strategy, John LaForge, informing the general audience that the company expressed zero interest in crypto. 

Cronk reportedly claimed that the associated risks are still high, referencing a $2 trillion international market cap, which has then declined to $1.3 trillion since Bitcoin (BTC) and other virtual coins suffered from one of the worst bloodbaths in recent memory.

“There’s a whole element of consumer protections and regulations that have to still evolve with the changing landscape. So we’re not without risk, it’s just that we think there can be a viable investable option for those clients who show an interest,” Cronk additionally claimed.