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- 88% of U.S. monetary advisors intend to put money into Bitcoin (BTC) after the approval of spot Bitcoin ETFs.
- Solely 39% of advisors anticipate the approval of a spot Bitcoin ETF in 2024.
- Spot Bitcoin ETF approval is seen as a catalyst for elevated crypto adoption in shopper portfolios.
Amid the anticipations of a Bitcoin spot ETF approval, a number of monetary advisors desirous about Bitcoin (BTC) throughout america expressed a cautious stance within the crypto market. A current survey exhibits that 88% of advisors intend to put money into BTC, however solely after the approval of spot Bitcoin exchange-traded funds (ETFs).
The sixth annual “Bitwise/VettaFi 2024 Benchmark Survey of Monetary Advisor Attitudes Towards Crypto Belongings” revealed that regardless of the rising enthusiasm for cryptocurrencies amongst shoppers, a big variety of monetary advisors stay cautious.
Notably, solely 39% of advisors anticipate the approval of a spot Bitcoin ETF in 2024. That is in stark distinction to the bullish sentiment of ETF analysts who estimate a 90% probability of approval in January. James Seyffart, for example, expects Bitcoin ETF approvals by January 8-10.
The approval of a spot Bitcoin ETF is seen by many as a possible catalyst that would open the floodgates for elevated crypto adoption in shopper portfolios. In a current episode of “Good Morning Crypto,” Fox Enterprise correspondent Eleanor Terrett emphasised that the approval of those ETFs would convey reassurance to those that beforehand considered Bitcoin as a purely “speculative asset.”
Not solely will or not it’s simpler to realize publicity after approval, however the nod from the @SECGov and institutional Wall Avenue corporations ought to instill extra confidence, Terrett added.
The survey additionally highlighted that entry to crypto stays restricted for advisors, with solely 19% reporting the flexibility to purchase crypto in shopper accounts. Nonetheless, as soon as invested, advisors have a tendency to remain dedicated, with 98% of these at the moment allocating to crypto planning to take care of or improve their publicity in 2024.
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