Financial Advisors See Strong Interest in Crypto — 90% Receive Inquiries About Crypto Investing, Survey Shows – Featured Bitcoin News3 min read
A brand new survey reveals that curiosity in cryptocurrency stays robust amongst monetary advisors’ shoppers. “Despite market performance, the most common question was: ‘Should I consider an investment in crypto?’” the survey outcomes reveal.
Financial Advisors Bullish About Crypto Lengthy Time period
Crypto asset supervisor Bitwise Asset Administration revealed a report titled “Bitwise/Vettafi 2023 Benchmark Survey of Financial Advisor Attitudes Toward Crypto Assets” on Tuesday. That is Bitwise’s fifth annual research performed in collaboration with Vettafi, an exchange-traded fund (ETF) platform.
The survey was performed between Nov. 25, 2022, and Jan. 6, 2023, with the participation of 491 monetary advisors, together with impartial registered funding advisors, broker-dealer representatives, monetary planners, and wirehouse representatives from throughout the U.S. Based on the survey findings:
Regardless of the sharp market correction of 2022, monetary advisors stay extremely engaged in crypto markets, with 15% allocating in shopper accounts and 90% receiving inbound questions from shoppers concerning the house.
“The survey is a reminder that crypto is one of the best business development opportunities in the financial advisor market,” mentioned Bitwise’s chief funding officer, Matt Hougan.
The vast majority of respondents are bullish about bitcoin in the long run however bearish this 12 months, with 63% anticipating BTC to fall in 2023 whereas 60% imagine it will likely be greater in 5 years. “While advisors’ interest in bitcoin (41%) was roughly twice that of ethereum (20%), their bullishness toward the two largest crypto assets was almost evenly split,” Bitwise described, including that 53% favored BTC whereas 47% most well-liked ETH.
Reiterating that shopper curiosity in crypto “remains strong” as 90% of monetary advisors “received a question about crypto from clients last year,” the report particulars:
Regardless of market efficiency, the commonest query was: ‘Should I consider an investment in crypto?’
“Despite market volatility, 78% of advisors who currently have an allocation in client accounts plan to either maintain or increase that exposure in 2023,” the survey moreover discovered. Amongst respondents, 59% mentioned “some” or “all” of their shoppers had been investing in crypto on their very own.
Furthermore, “crypto equity ETFs” had been monetary advisors’ high crypto funding alternative for 2023. The U.S. Securities and Change Fee (SEC) has accredited a number of bitcoin futures ETFs however has but to approve a spot bitcoin ETF.
Vettafi’s head of analysis, Todd Rosenbluth, commented:
Advisors and their finish shoppers proceed to need to be taught extra about crypto investments regardless of the volatility incurred in 2022. For these with a long-term focus, curiosity stays excessive.
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