72% of Surveyed Financial Advisors to Invest in Crypto if the US Has Spot ETFs (Study)

A recent Nasdaq research found that 72% of 500 financial advisors would be more inclined to invest client funds into digital assets if the US watchdog approves a spot ETF. 86% of those who are already in the market said that they plan to increase their exposure over 12 months.

Spot Bitcoin ETF could attract more investors

The US Securities and Exchange Commission (SEC), approved the ProShares Bitcoin Strategy futures backed ETF ticked BITO last year. This product was the first to be launched in the US and generated a lot of excitement in the market.

The largest economy does not have a spot cryptocurrency ETF. Nasdaq recently determined that such a product could bring in new investors to financial advisors. 72% of respondents indicated that they would enter the crypto market once a spot ETF is available.

Only 38% of respondents believe that such a product will be made this year, despite their high interest.

Some advisors surveyed have invested in this asset class. 86% of advisors surveyed said that they plan to increase their allocations over the next year. However, no one plans to decrease them. The same group also invested in Bitcoin futures ETFs 50% of which they already own and 28% intend to do so within the next 12 month.

With 34%, crypto adoption is highest among registered advisors. Moreover, 34% of registered investment advisors and 19% of independent broker-dealers admitted to investing in the market.

Jake Rapaport, Head of Digital Asset Index Research at Nasdaq, summarized the findings of the study.

The vast majority of advisors that we surveyed plan to allocate crypto to new or increase their current allocation. Advisors will continue to look for institutional solutions to the crypto question, which is dominating client conversations as demand continues to rise.

The Rejected Spot Bitcoin ETFs

The BITO futures-backed ETF was approved by the US’ top financial regulator, but it has halted several firms’ plans to launch a spot Bitcoin ETF. This is what VanEck, a global investment manager, has done.

The company was very close to introducing its first product in the USA last year. However, the SEC ultimately rejected it. VanEck claimed that it was unable address the previous hurdles. These were designed to protect investors and to prevent fraud and manipulative acts.

NYDIG, another organization, aims to allow investors to purchase or sell shares that track and follow the price of the largest cryptocurrency in the world. The SEC put off the initiative earlier in the year.

SkyBridge Capital, Anthony Scaramucci’s company, was also waiting for approval from the Commission for some time before it was finally rejected.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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