The CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. According to the group, there are more than 154,000 CFA charterholders worldwide in 165+ countries and regions. So when a group that prides itself on setting the standard for professional excellence decides to go crypto – that’s news.
According to a report in Bloomberg, the CFA Institute is adding both blockchain and cryptocurrencies to Level I and II exams for the coming year. Each level of the CFA Program imparts a particular skill set. As explained by the group:
- Level I is focused on investment tools and the foundations of the business, giving candidates the necessary knowledge and comprehension
- Level II is focused on applying those tools in the analysis of asset classes, including equity investments, fixed income, derivatives, and alternative investments;
Speaking to Bloomberg, Stephen Horan, MD for general education and curriculum at CFA Institute, explained the shift;
“We saw the field advancing more quickly than other fields and we also saw it as more durable. This is not a passing fad.” [emphasis added]
So the CFA believes that cryptocurrency and blockchain are both here to stay.
LThe CFA Institute charterholders work for both big and small firms. The big firms include names like, JP Morgan Chase, UBS, RBC, Bank of America ML, HSBC, Wells Fargo, Morgan Stanley, Citigroup, BlackRock, Credit Suisse, and State Street.
Last month, the CFA Institute, had a record number of 227,031 candidates register for Level I, II, and III CFA exams at test centers in 91 countries and territories. The CFA Program has seen steady annual growth, with a notable 20% increase in exam registrations in the past year alone.
So along with this growth of charterholders will come a growth of knowledge and skills to advise the greater public on investing in crypto.
The Genie is out of the bottle.