Nasdaq Survey Says Most Financial Advisors Want a Spot Bitcoin ETF Before Allocating to Crypto
3 min read

Nasdaq Survey Says Most Financial Advisors Want a Spot Bitcoin ETF Before Allocating to Crypto

By News Desk

A recently conducted survey finds that the vast majority of financial advisors in the US are waiting for a spot exchange-traded fund (ETF) before they dive into crypto investments.

Published by Nasdaq, the survey took responses from 500 financial advisors in the US who were already considering investing in cryptocurrencies. Of those surveyed, 72% said they would be more likely to invest client assets in crypto if a spot ETF were offered in the US.

“Over the last decade, financial advisors have been focused on shifting assets into index funds. As they incorporate digital assets into their investment strategies, they are expressing strong interest in a similar vehicle that can offer broad asset class exposure for their clients,” said Jake Rapaport, Head of Digital Asset Index Research, Nasdaq. “The vast majority of advisors we surveyed either plan to begin allocating to crypto or increase their existing allocation to crypto. As demand continues to surge, advisors will be looking for an institutional solution to the crypto question that now dominates client conversations.”

While interest is high, the financial advisors mostly agreed that a spot crypto ETF is probably out of the picture for the time being, with only 38% responding that it would be “likely” that one would be signed off on in 2022.

The report also showed that those who are already invested in crypto have strong convictions. According to the survey, 86% plan on increasing their allocations over the next year, and 0% plan on decreasing. In that same group, 50% of them had already used Bitcoin futures ETFs and 28% planned on using them within the next year.

Image via Shutterstock

“On average, advisors currently or considering investing in 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%).”

Results of the survey come amid an intensifying debate over why the SEC can’t approve a spot Bitcoin ETF, with many in the crypto space strongly dissatisfied with justifications given by the US’ main regulator.

Last month, Grayscale CEO Michael Sonnenshein said that the digital asset management giant would consider filing a lawsuit against the SEC if its latest bid to convert its Bitcoin Trust to an ETF was rejected again.

“I think all options are on the table. I think certainly it’s important that between now and the end of that 240-day process which ends in early July that the SEC hears from as many investors as possible, as well as academics, policymakers…Everybody has an opportunity to weigh in on these issues, and all of that is in fact considered as the SEC weighs the issue in front of us.”

Newsletter Inline

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

Latest Posts

crypto gifts
Top 10 Best Crypto Gifts in 2022
crypto gifts

Top 10 Best Crypto Gifts in 2022

October 3, 2022 24 min read
How interest rates impact everything macro look at interest rates
How Interest Rates Impact Everything
How interest rates impact everything macro look at interest rates

How Interest Rates Impact Everything

September 30, 2022 25 min read
How to stake MATIC with Ledger

How to stake MATIC with Ledger

September 29, 2022 5 min read
PrimeXBT vs Bybit 2022: Which Exchange is Best for Crypto Trading?

PrimeXBT vs Bybit 2022: Which Exchange is Best for Crypto Trading?

September 27, 2022 26 min read
How to Buy Bitcoin on Binance

How to Buy Bitcoin on Binance

September 26, 2022 7 min read
How to buy Polkadot at FTX
How to Buy Polkadot (DOT) on FTX Exchange
How to buy Polkadot at FTX

How to Buy Polkadot (DOT) on FTX Exchange

September 23, 2022 9 min read
Crypto Safety 101: How to Protect your Crypto

Crypto Safety 101: How to Protect your Crypto

September 22, 2022 44 min read

Related Posts

How interest rates impact everything macro look at interest rates
How Interest Rates Impact Everything
How interest rates impact everything macro look at interest rates

How Interest Rates Impact Everything

September 30, 2022 25 min read
How to stake MATIC with Ledger

How to stake MATIC with Ledger

September 29, 2022 5 min read
Blockchain Security: How to Understand Blockchain Audits to Stay Safe in DeFi

Blockchain Security: How to Understand Blockchain Audits to Stay Safe in DeFi

September 21, 2022 26 min read
Using Modern Portfolio Theory to Build a Crypto Portfolio
Using Modern Portfolio Theory and How to Build a Crypto Portfolio
Using Modern Portfolio Theory to Build a Crypto Portfolio

Using Modern Portfolio Theory and How to Build a Crypto Portfolio

September 12, 2022 48 min read
Top 5 Crypto Scams to Avoid in 2022

Top 5 Crypto Scams to Avoid in 2022

September 7, 2022 30 min read
What is Etherscan and how to use it
Etherscan Review: Public Face of Ethereum
What is Etherscan and how to use it

Etherscan Review: Public Face of Ethereum

August 30, 2022 16 min read
Can you still make money mining Monero
Can You Still Make Money Mining Monero in 2022?
Can you still make money mining Monero

Can You Still Make Money Mining Monero in 2022?

August 27, 2022 16 min read