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Alternative Market Briefing

72% of financial advisors want a spot Bitcoin ETF before allocating to crypto

Wednesday, April 13, 2022

Laxman Pai, Opalesque Asia:

72% of financial advisors would be more likely to invest client assets in crypto if a spot exchange-traded fund (ETF) product were offered in the United States, said a survey.

According to a new Nasdaq survey of 500 financial advisors who are currently or considering allocating to crypto, among advisors already investing in crypto, 86% expect to increase their allocations over the next 12 months, while 0% report plans to decrease.

Of the same group, 50% are already using Bitcoin futures ETFs, and 28% plan to start using them in the next 12 months, it added.

The survey revealed that on average, advisors currently or considering investing in a crypto state that their ideal crypto allocation is 6% of a client's total portfolio.

Notably, some 69% of these advisors would consider using an index fund for broad exposure, followed by sector-specific index funds (57%), actively managed funds (52%), individual digital assets (40%), and high-yield funds (31%).

Despite strong interest in a passive approach to crypto and a spot crypto ETF, the surveyed advisors are not confident that such a product will be approved in 2022. Only some 38% find it likely, 31% find it unlikely, 24% find it neither likely nor unlikely, and 7% are not sure.

The survey finds that crypto adoption is highest among registered investment advisors (RIAs), with 34% of RIAs using crypto compared to 19% of independent broker-dealers (IBDs) and 17% of wirehouse advisor......................

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