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A new survey shows that interest in cryptocurrency remains strong among financial advisors\u2019 clients. \u201cDespite market performance, the most common question was: \u2018Should I consider an investment in crypto?’\u201d the survey results reveal.<\/strong>\n<\/p>\n \n The survey was conducted between Nov. 25, 2022, and Jan. 6, 2023, with the participation of 491 financial advisors, including independent registered investment advisors, broker-dealer representatives, financial planners, and wirehouse representatives from across the U.S. According to the survey findings:\n<\/p>\n Despite the sharp market correction of 2022, financial advisors remain highly engaged in crypto markets, with 15% allocating in client accounts and 90% receiving inbound questions from clients about the space.<\/p>\n<\/blockquote>\n \n The majority of respondents are bullish about bitcoin in the long term but bearish this year, with 63% expecting BTC<\/a> to fall in 2023 while 60% believe it will be higher in five years. \u201cWhile advisors\u2019 interest in bitcoin (41%) was roughly twice that of ethereum (20%), their bullishness toward the two largest crypto assets was almost evenly split,\u201d Bitwise described, adding that 53% favored BTC<\/a> while 47% preferred ETH<\/a>.<\/p>\n Reiterating that client interest in crypto \u201cremains strong\u201d as 90% of financial advisors \u201creceived a question about crypto from clients last year,\u201d the report details:\n<\/p>\n Despite market performance, the most common question was: \u2018Should I consider an investment in crypto?\u2019<\/p>\n<\/blockquote>\n \n\u201cDespite market volatility, 78% of advisors who currently have an allocation in client accounts plan to either maintain or increase that exposure in 2023,\u201d the survey additionally found. Among respondents, 59% said \u201csome\u201d or \u201call\u201d of their clients were investing in crypto on their own.<\/p>\n Moreover, \u201ccrypto equity ETFs\u201d were financial advisors\u2019 top crypto investment choice for 2023. The U.S. Securities and Exchange Commission (SEC) has approved several bitcoin futures ETFs but has yet to approve a spot bitcoin ETF.<\/p>\n Vettafi\u2019s head of research, Todd Rosenbluth, commented:\n<\/p>\n Advisors and their end clients continue to want to learn more about crypto investments despite the volatility incurred in 2022. For those with a long-term focus, interest remains high.<\/p>\n<\/blockquote>\nFinancial Advisors Bullish About Crypto Long Term<\/h2>\n
\nCrypto asset manager Bitwise Asset Management published a report titled \u201cBitwise\/Vettafi 2023 Benchmark Survey of Financial Advisor Attitudes Toward Crypto Assets\u201d on Tuesday. This is Bitwise\u2019s fifth annual study conducted in collaboration with Vettafi, an exchange-traded fund (ETF) platform.<\/p>\n\n
\n\u201cThe survey is a reminder that crypto is one of the best business development opportunities in the financial advisor market,\u201d said Bitwise\u2019s chief investment officer, Matt Hougan.<\/p>\n\n
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