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Bitcoin Spot ETF Approval Has 88% of Financial Advisors Waiting To Invest

Published 01/05/2024, 03:43 PM
Updated 01/05/2024, 03:45 PM
© Reuters Bitcoin Spot ETF Approval Has 88% of Financial Advisors Waiting To Invest
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  • 88% of U.S. financial advisors intend to invest in Bitcoin (BTC) after the approval of spot Bitcoin ETFs.

  • Only 39% of advisors anticipate the approval of a spot Bitcoin ETF in 2024.

  • Spot Bitcoin ETF approval is seen as a catalyst for increased crypto adoption in client portfolios.

Amid the anticipations of a Bitcoin spot ETF approval, several financial advisors interested in Bitcoin (BTC) across the United States expressed a cautious stance in the crypto market. A recent survey shows that 88% of advisors intend to invest in BTC, but only after the approval of spot Bitcoin exchange-traded funds (ETFs).

The sixth annual “Bitwise/VettaFi 2024 Benchmark Survey of Financial Advisor Attitudes Toward Crypto Assets” revealed that despite the growing enthusiasm for cryptocurrencies among clients, a significant number of financial advisors remain cautious.

Notably, only 39% of advisors anticipate the approval of a spot Bitcoin ETF in 2024. This is in stark contrast to the bullish sentiment of ETF analysts who estimate a 90% likelihood of approval in January. James Seyffart, for instance, expects Bitcoin ETF approvals by January 8-10.

The post Bitcoin Spot ETF Approval Has 88% of Financial Advisors Waiting To Invest appeared first on Coin Edition.

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