Although few financial advisers have been recommending digital assets to their clients, 35 percent to 50 percent of advisers plan to actively recommend crypto products in 2024, including spot bitcoin ETFs, according to Digital Assets Council of Financial Professionals (DACFP).
“This research reveals that many advisers admit that they do not know how to buy digital assets or don't trust the companies offering digital asset products,” said Ric Edelman, DACFP founder. “Spot bitcoin ETFs eliminate these concerns, and that's why we believe there will be a huge increase in crypto engagement by advisers in 2024.”
Thirteen companies have asked the SEC for permission to launch spot bitcoin ETFs, and approval of some or all these applications is expected in early January. The survey results released on the webinar suggest that massive asset flows into these ETFs could occur, amounting to as much as $150 billion from independent RIAs.
The survey queried financial