Summary
Net inflows into US spot bitcoin ETFs have surpassed $1.2 billion and are expected to increase significantly as more investment professionals allocate funds to them. However, the wealth management sector, which controls $48 trillion in assets, needs more time before investing client capital into these ETFs. Many wealth management platforms affiliated with banks or broker-dealers have not yet added bitcoin ETFs to their investment options. A survey found that 80% of financial advisers were unable to buy crypto for clients or were unsure if they could. Of those interested in adding bitcoin exposure, nearly 90% were waiting for the approval of a spot bitcoin ETF. While independent registered investment advisers are more agile in allocating new funds, they also require time to understand and explain crypto and blockchain technology to their clients. It is expected that financial advisers will allocate over $150 billion into spot bitcoin ETFs in the next two years.
Key Points
1. Net inflows into US spot bitcoin ETFs have exceeded $1.2 billion and are expected to increase significantly as more investment professionals invest in these funds.
2. The wealth management sector, which controls an estimated $48 trillion in assets, has not yet added bitcoin ETFs to their investment options. However, industry experts believe that this will change over time.
3. According to a survey, approximately 80% of financial advisers are either unable to buy crypto for clients or unsure if they can. Nearly 90% of advisers interested in adding bitcoin exposure to client portfolios are waiting for the approval of a spot bitcoin ETF.