Turning Passion into Profit: Chris King’s Journey in Cryptocurrency
Chris King, the dynamic CEO and founder of Eaglebrook Advisors, has carved out a niche in the cryptocurrency landscape that blends technology with finance. With a foundation of over $211 million in assets under management, Eaglebrook Advisors is poised to reshape the wealth management industry by focusing specifically on digital assets.
A Fortuitous Start
At just 29 years old, King’s journey in cryptocurrency began, quite fittingly, as a result of a college assignment during his time at Penn State University. Tasked with investigating how to tax virtual currency, this project became the portal through which he plunged into the intricate world of crypto.
“From there, I fell down the rabbit hole, because it intersected with my interests in technology, finance, emerging asset classes and macroeconomics,” he recalls, highlighting the serendipitous nature of his initial attraction to cryptocurrency.
Following his graduation, it wasn’t long before King started to gain significant experience in the finance sector, working at Morgan Creek Capital Management. He immersed himself in investments related to cryptocurrency and soon recognized a pivotal opening in the wealth management arena.
The Birth of Eaglebrook Advisors
In May 2019, after years of acquiring knowledge, King launched Eaglebrook Advisors to specifically cater to advisors managing substantial cryptocurrency holdings. King observed that while interest in digital assets was gaining momentum, many advisors remained hesitant to introduce this volatile class into client portfolios.
In King’s perspective, the crypto sector is rife with potential, and as he explains, “There’s going to be a strong opportunity for asset managers to outperform.” Despite the early skepticism from institutional clients, the proactive approach of Eaglebrook — including tailored products like the Eaglebrook Bitcoin SMA — has begun to foster change in attitudes towards cryptocurrency in wealth management.
Investing in cryptocurrency—a growing trend among advisors.
A Competitive Edge
One of the significant barriers to entry for other platforms in the cryptocurrency SMA market has been their lack of credible anchor clients. King points out that Eaglebrook Advisors uniquely positioned itself in the sector by forming strong partnerships, like the one with Mariner Wealth Advisors, which allowed the rollout of their Bitcoin SMA to clients. “A big reason why there’s been low competition in the crypto SMA market has been because the other platforms never got a strong anchor client,” King states.
As of today, Eaglebrook proudly operates with over 60 registered investment advisors (RIAs) using its platform, showcasing its burgeoning presence in the crypto investment space.
Looking Forward
“Investment in digital assets will be a crucial part of every client’s portfolio over the next 10 years,” King asserts. As the landscape continues to evolve, more wealth management firms are expanding their investment committees to incorporate digital assets. King highlights the major benefits of the SMA structure, particularly its tax efficiency, thanks to features like automated tax loss harvesting that make it more advantageous compared to traditional cryptocurrency ETFs.
With volatility inherent to this asset class, the advantages provided by Eaglebrook Advisors could prove invaluable for investors seeking exposure without incurring unnecessary risks.
The cryptocurrency landscape is rapidly changing.
As institutional adoption remains in its infancy, Eaglebrook stands as a harbinger for what’s to come in the crypto investment world. King’s journey—from a college project to steering a successful advisory firm—illustrates the intersection of opportunity, knowledge, and foresight in a continuously evolving market.
As the cryptocurrency narrative unfolds, we can expect organizations like Eaglebrook Advisors to play a significant role in how assets are managed in the future.
Conclusion
Chris King’s story is not just one of personal success but a reflection of the significant shifts occurring within the wealth management landscape today. With the fusion of traditional finance and cutting-edge digital currencies, the opportunities for growth and innovation are extraordinary. As more investors look to diversify into cryptocurrencies, platforms like Eaglebrook Advisors will undoubtedly be at the forefront of this revolution.
With the right management and insight, the journey into the cryptosphere might just be getting started for many advisors and their clients alike.
