This presentation will cover three main areas. First, we will survey the rapidly evolving SEC and CFTC regulatory framework and landscape for digital assets, including the CFTC’s expanding oversight of prediction markets under the Commodity Exchange Act. Second, we will walk through the fundamentals that investment professionals need to understand—the emerging digital asset taxonomy, the difference between cryptocurrencies as a speculative asset class and tokenized traditional assets, direct versus indirect exposure options such as spot Bitcoin and Ether ETFs, custody considerations, and the key CFTC registration categories governing event contract markets. Third, we will tie it all together and discuss the implications and considerations for an investment adviser’s fiduciary duty under the Investment Advisers Act of 1940. The session will conclude with practical takeaways and an open Q&A.