72% of Surveyed Financial Advisors to Invest in Crypto if the US Has Spot ETFs (Study)
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Loading... - Liam Bakker
- 12 Apr 2022
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According to a recent research conducted by Nasdaq, 72% out of 500 financial advisors will be more likely to invest client funds in digital assets if the US watchdog greenlights a spot ETF. Among those already part of the market, 86% said they will increase their exposure over the next 12 months.
Spot Bitcoin ETF Could Attract More Investors
Last year, the US Securities and Exchange Commission (SEC) greenlighted the ProShares Bitcoin Strategy futures-backed ETF, ticked BITO. The product became the first of its kind in the US, which generated huge enthusiasm in the space.
However, the largest economy still lacks a spot cryptocurrency ETF. Recently, Nasdaq determined that if such a product is offered, it could create a fresh wave of investors among financial advisors. Specifically, 72% answered they will enter the crypto ecosystem once a spot ETF goes live.
Despite their strong interest, only 38% believe such a product will see the light of day this year.
Some of the surveyed advisors have already invested in the asset class. 86% said they will increase their allocations in the following year, while no one intends to reduce them. Of the same group, 50% already invest in Bitcoin futures ETFs, and 28% plan to start doing so in the next 12 months.
Crypto adoption is highest among registered investment advisors with 34%. At the same time, 19% of the independent broker-dealers and 17% of wirehouse advisors admitted investing in the market.
Jake Rapaport – Head of Digital Asset Index Research at Nasdaq – summarized the results of the study. Read More...
