Please stay tuned for important disclosure information at the conclusion of this episode.

The cryptocurrency market experiences highs and lows, and investors don't need to buy digital assets like coins to have exposure.

The stocks and funds in their portfolio may have links to the

crypto industry. Morningstar Research Services quantitative analyst Manon Argoal has research obvious

and hidden crypto exposures. Manon, what makes digital assets different from traditional assets like

stocks and funds? Well, digital assets different from traditional assets like stocks and funds?

Well, digital assets like cryptocurrencies, they really are an emerging asset class that have

only evolved over the last decade or so. They have recently reached the $1 trillion market cap.

The growth that this asset class has seen has been phenomenal and

unlike any other asset class really. Of course they do differ from traditional assets in a number

of key aspects. Like for example while traditional assets really rely on intermediaries and

centralized platforms, digital assets by the very definition are decentralized.

Not just that, digital assets also offer direct ownership, greater accessibility and greater transparency when compared to these traditional assets.

Now having said that, digital assets are also host to extremely high volatility when compared to traditional assets.

And they are by no means and investment suitable for all investors.

Investors should, I think, really have a word with their financial advisors before they

jump into the crypto space.

So you research intended and unintended crypto exposures. Can you explain what you found?

Well, I think the most important finding of that piece of research was that there do exist a host of

ETFs and equity funds that do not really market themselves as being exposed to crypto.

But when you really jump into the holdings, you see that there's a lot of stocks that they hold, which directly or indirectly

are exposed to the crypto space. So we really define intentionality by the intention of the fund itself

...