According to a recent report by Cerulli Associates, as reported by Barron’s, since the approval of the first Bitcoin spot ETF in January this year, the initial 11 Bitcoin spot ETFs have collectively seen an inflow of $13.8 billion. However, these “newcomers” are almost entirely investors not following the advice of financial advisors.
In a survey of over 1,500 advisors, only 2.6% of respondents indicated that they would recommend cryptocurrencies to their clients (up from 1.2% last year). Another 12.1% said they would discuss cryptocurrencies if asked by clients, but would not bring it up proactively. Slightly over 26% of advisors stated they currently do not discuss cryptocurrencies with clients but plan to do so in the future. The remaining nearly 59% of advisors indicated they have no plans to discuss cryptocurrencies with clients in the future, highlighting the enthusiasm gap between financial professionals and investors.
Cerulli wrote in its report, “Many have expressed that even with the regulatory approval of crypto asset ETFs, there has been only a slight change in advisors’ interest in adopting cryptocurrencies or discussing them with clients.”
Notably, Cerulli’s findings contrast sharply with a study released in May by the Digital Assets Council of Financial Professionals and Franklin Templeton. In Franklin’s survey, 35% of advisors said they plan to recommend cryptocurrencies to their clients within the next six months. However, the sample size of advisors in that survey was much smaller (only 272 people), and the survey itself was conducted by a group promoting cryptocurrencies, sponsored by an asset management company that issues Bitcoin spot ETFs.
**Tags: Cryptocurrency**
**Source Link:**
[Link to Barron’s article]
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**Original Article Link:**
[Link to Bitpush article]
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