For RIAs and advisers
Clients are asking. Most advisers do not want to build the vehicle analysis, custody comparison, sizing framework and compliance documentation from scratch for a single sleeve of a portfolio.
First recommended step
The monthly live webinar is the clearest place to understand the questions around sizing, custody and governance before deciding whether the founding partner programme is the right fit.
Attend the webinarThe programme
Bitcoin exposure with downside risk management, traded by Veritas Bitcoin Strategies LLC in the client’s Schwab account under discretionary trading authority. The adviser keeps the client relationship. Veritas manages one sleeve.
Three adviser firms per quarter.
Veritas Bitcoin Strategies LLC onboards three adviser firms each quarter. Each onboarding includes ADV disclosure language, trading authority at Schwab and training for the firm’s advisers, and that work is done by the founder personally. Founding partners get direct access to Eric Runge and a voice in how the programme is built.
Apply for a Founding Partner SlotA Bitcoin allocation is a portfolio architecture decision, not a product decision. The questions that matter are how much, in what form, through which vehicles, held where and under what documented process for changing the position over time.
Start with the client’s total assets, including existing Bitcoin exposure through funds, operating businesses, and other holdings. Define the portfolio role, liquidity needs, concentration, time horizon, and capacity to absorb loss, then document a target range and maximum for committee review.
Compare spot Bitcoin ETFs, Bitcoin treasury equities, and direct Bitcoin held with a qualified custodian against the client mandate and account constraints. These vehicles have different exposure, operating, custody, liquidity, and reporting characteristics, so the rationale for the selected vehicle should be recorded.
Identify the legal owner, qualified custodian, parties with key or transaction authority, and controls that separate approval from execution. The operating record should also address access reviews, recovery, incident response, and continuity if a principal, trustee, or service provider changes.
Assess the client’s objectives, financial circumstances, risk capacity, time horizon, liquidity, concentration, and understanding of volatility. Disclosures should match the actual vehicle, custody arrangement, fees, discretion, conflicts, and monitoring process.
Retain the client-specific rationale, alternatives considered, sizing analysis, vehicle and custody review, approvals, and any material conflicts. Record the review schedule, rebalancing rules, and conditions that would reopen or change the decision.
Follow the process approved before the decline, including who contacts the client, what information is reported, and which decisions require fresh authorization. A drawdown should trigger the policy’s review steps, not an improvised prediction or an automatic trade.
Set a calendar or threshold-based review cadence and specify who monitors the allocation against its target range and maximum. Define how liquidity, tax lots, custody, client circumstances, and governance changes feed into a decision to rebalance or retain the position.
Audience-specific work
Questions for advisers
Start with the client mandate, liquidity needs, existing concentration and the role the position would play. The analysis should also document custody, vehicle selection, monitoring and the conditions for review.
That depends on the adviser’s business model, client demand, custody arrangement, disclosures, fees, authority and ability to oversee the sleeve. A managed structure should be evaluated as an operating responsibility, not only as a product choice.
The adviser should consider the client’s objectives, risk capacity, time horizon, liquidity, concentration and understanding of digital asset volatility. Disclosures should match the actual vehicle, custody, fees, authority and monitoring process.
The work can cover allocation architecture, vehicle and custody analysis, documentation, governance and an operating process that fits the adviser’s client relationship. Scope depends on what the firm has already built.
A repeatable framework helps the adviser use consistent questions, review points, records and client communication across households. The framework should still leave room for household-specific suitability and portfolio context.
Allocation Briefings
Upcoming session
A live one-hour session for family offices and advisers on sizing, structuring and governing a Bitcoin allocation, with live Q&A. Live only, not recorded.
A 30-minute conversation to understand the current situation and whether there is a genuine fit. No pitch.
Schedule a Conversation