Conference Handout
Session Trifold
The handout from today's event. Download either side for your records or to share with clients.
Tools, references, and frameworks to help you navigate crypto conversations with clients — confidently and safely.
Your clients are already in this market. These numbers show why the conversation can't wait.
Bitcoin spot ETFs brought institutional access. Stablecoins are processing trillions in transfers. Regulatory frameworks are emerging (GENIUS Act signed). Advisor access has doubled since 2023.
Extreme volatility persists. Fraud losses hit a record $11.4B in 2025 — adults over 60 lost $4.4B alone, making them the most targeted demographic. Political entanglement with crypto creates regulatory uncertainty.
Clients are making crypto decisions without you. The advisors who engage — even at a basic literacy level — catch scams, improve risk management, and protect AUM that would otherwise walk out the door.
A condensed timeline of the events that shape how advisors should think about crypto today.
What advisors need to know right now about the evolving crypto regulatory framework.
Confirmed April 2025. Replaced Gary Gensler. Shifted SEC posture from enforcement-first to rulemaking-first.
Confirmed December 2025. Overseeing expanded CFTC role in digital commodity spot markets.
Rescinded SAB 121 — crypto custody no longer requires balance-sheet liability treatment. This is why banks can now custody digital assets.
First federal digital asset law. Regulates payment stablecoins. Effective ~November 2026.
Passed House July 2025, stalled in Senate. Would establish CFTC jurisdiction over digital commodity spot markets. Not yet law.
Classified 16 named digital assets (incl. BTC, ETH, XRP, SOL) as non-securities. Establishes current token taxonomy.
Government holds ~200,000 BTC from forfeitures; will not sell. Established via EO March 6, 2025.
Coinbase (Feb 2025), Kraken (Mar 2025), Binance (May 2025), Ripple (Aug 2025). Fraud cases continue; regulatory overreach cases dropped.
All materials from today's session, free to download and use with your clients.
The full slide deck from today's session — now an interactive, navigable presentation. Covers crypto history, volatility, custody, security, and advisor positioning.
Open PresentationA scored 6-section questionnaire to identify client exposure, custody gaps, security posture, and scam risk. Now interactive — fill it out live in your next client meeting and print the results.
Open AssessmentQuick-reference guide to the language, channels, and manipulation tactics used in crypto scams. Keep it handy for client conversations.
Download PDFA structured template to document client crypto holdings, custody setup, security posture, and estate planning. Pairs with the readiness assessment.
Download PDFThe physical handout from today's event. Covers custody options, security rules, and a client checklist you can use at your next annual review.
Download Outside Download InsideFor advisors with client accounts that can hold ETFs. All data as of April 2026 — verify current figures before transacting.
| Ticker | Name | Sponsor | Expense Ratio | Est. AUM | NWM Note |
|---|---|---|---|---|---|
| IBIT | iShares Bitcoin Trust | BlackRock | 0.25% | ~$56B | Most Liquid |
| FBTC | Fidelity Wise Origin Bitcoin Fund | Fidelity | 0.25% | ~$15B | Most Liquid |
| GBTC | Grayscale Bitcoin Trust | Grayscale | 1.50% | ~$15B | Avoid — High Fee |
| BTC | Grayscale Bitcoin Mini Trust | Grayscale | 0.15% | ~$4B | Lowest Cost |
| ARKB | ARK 21Shares Bitcoin ETF | ARK Invest / 21Shares | 0.21% | ~$3.5B | Solid Option |
| BITB | Bitwise Bitcoin ETF | Bitwise | 0.20% | ~$3B | Solid Option |
| HODL | VanEck Bitcoin ETF | VanEck | 0.20% | ~$1B | Solid Option |
| BTCO | Invesco Galaxy Bitcoin ETF | Invesco / Galaxy | 0.25% | ~$500M | Solid Option |
| EZBC | Franklin Bitcoin ETF | Franklin Templeton | 0.19% | ~$400M | Solid Option |
| BRRR | CoinShares Valkyrie Bitcoin Fund | Valkyrie / CoinShares | 0.25% | ~$500M | Solid Option |
| BTCW | WisdomTree Bitcoin Fund | WisdomTree | 0.25% | ~$100M | Solid Option |
⚠️ Confirm NWM platform availability and current pricing before recommending any product. This table is for educational reference only and does not constitute investment advice. Consult Nimshi or NWM compliance for account-type eligibility.
| Custodian | Charter / License | Notable |
|---|---|---|
| Fidelity Digital Assets | NY trust + OCC national trust bank charter | Backed by $4T+ parent; $100M+ insurance |
| Coinbase Custody | NYDFS trust charter | Primary custodian for most spot crypto ETFs |
| BitGo | OCC national bank charter (Dec 2025) | $250M insurance; $90B+ AUC |
| Anchorage Digital | OCC federal bank charter (Jan 2021) | First crypto-native federal bank |
| BNY Mellon | Traditional bank | Integrated crypto into traditional custody |
| Gemini Trust | NYDFS regulated | $125M insurance |
Confirm NWM platform availability before recommending any custodian to clients.
Form 1099-DA is new for the 2025 tax year. Brokers issued first 1099-DAs in February 2026 reporting gross proceeds only. Cost basis reporting becomes mandatory for the 2026 tax year (forms issued 2027) on assets acquired January 2026 or later at the same broker.
Wash sale rules do not currently apply to directly held crypto. Because crypto is classified as property rather than securities, IRC §1091 does not apply. Clients can sell at a loss and immediately repurchase. This is a legitimate tax-loss harvesting tool that may not survive — bipartisan proposals to extend wash sale rules to digital assets are active in Congress.
Spot crypto ETFs are treated as securities for tax purposes. Wash sale rules DO apply to ETF shares. Advisors should distinguish between direct crypto holdings and ETF exposure when modeling client tax scenarios.
A quick reference for the expanding universe of spot crypto ETFs beyond Bitcoin. Same caveats as above.
| Ticker | Name | Sponsor | Expense Ratio | Notes |
|---|---|---|---|---|
| ETHA | iShares Ethereum Trust | BlackRock | 0.25% | Largest ETH ETF |
| FETH | Fidelity Ethereum Fund | Fidelity | 0.25% | |
| ETH | Grayscale Ethereum Mini Trust | Grayscale | 0.15% | Lowest cost |
| ETHE | Grayscale Ethereum Trust | Grayscale | 2.50% | Legacy; high fee |
| ETHB | iShares Ethereum Trust (Staking) | BlackRock | TBD | Staking 70–95% |
| Ticker | Name | Sponsor |
|---|---|---|
| BSOL | Bitwise Solana ETF | Bitwise |
| GSOL | Grayscale Solana Trust | Grayscale |
| VSOL | VanEck Solana ETF | VanEck |
| FSOL | Fidelity Solana Fund | Fidelity |
| TSOL | 21Shares Core Solana ETF | 21Shares |
| SOLC | Canary Solana ETF | Canary Capital |
| Ticker | Name | Sponsor |
|---|---|---|
| XRPC | Canary XRP ETF | Canary Capital |
| XRP | Bitwise XRP ETF | Bitwise |
| EZRP | Franklin XRP ETF | Franklin Templeton |
| TOXR | 21Shares Core XRP ETF | 21Shares |
| XRPM | Amplify XRP ETF | Amplify |
| Ticker | Asset | Name | Sponsor |
|---|---|---|---|
| LTCC | Litecoin | Canary Litecoin ETF | Canary Capital |
| HBR | HBAR | Canary HBAR ETF | Canary Capital |
| DOJE | Dogecoin | REX-Osprey DOGE ETF | REX-Osprey |
Non-BTC ETFs are newer and less liquid than Bitcoin ETFs. Confirm NWM platform availability and verify current AUM/expense ratios before recommending.
Keep this section bookmarked. When a client brings up a crypto "opportunity," run through these before anything else.
These lines are designed to isolate clients from trusted advisors. Your literacy is your best counter-argument.
2+ "Yes" answers = HIGH probability of scam. Pause and investigate.
The handout from today's event. Download either side for your records or to share with clients.
Questions, client situations, or follow-up topics — reach out directly. We work with advisors, not just their clients.
All materials on this site are for educational purposes only and do not constitute legal, tax, or investment advice. Content prepared for the Northwestern Mutual advisor workshop, April 2026. Fergulati Services · Independent Contractor.
