According to surveys of financial advisors, only 12% are currently recommending that clients invest in Bitcoin, while 47% of advisors personally own Bitcoin and a whopping 77% say they are waiting for a spot Bitcoin ETF to become available so they can offer it to their clients.
On this episode of Unchained, Ric Edelman, founder of the Digital Assets Council of Financial Professionals and author of “The Truth About Crypto,” explains how this should all lead to high demand once the first spot Bitcoin ETFs become available, although it will take some time for them to allocate. Edelman also discusses how FTX’s implosion impacted advisor perceptions of crypto, why investors have not been that excited by crypto futures ETFs, and which Bitcoin ETF issuers he believes are likely to be the big winners.
- how regulatory confusion keeps financial advisors away from recommending Bitcoin to their clients
- how the collapse of FTX affected financial advisors’ interest in crypto, according to Ric
- how the knowledge level of financial advisors about Bitcoin is “extraordinarily low”
- why 77% of investment advisors are willing to buy a spot Bitcoin ETF
- why there wasn’t a huge interest from advisors after the launch of Bitcoin futures ETFs
- the percentage of client portfolios that he expects they will allocate to BTC
- why Ric thinks there won’t be huge inflows immediately after the approval of spot BTC ETFs
- how financial advisors will decide whose ETF to buy, among the 12 potential issuers
- why he believes spot Ethereum ETFs have great growth potential
- why he thinks tokenization might be the “next big thing” that will increase institutional activity
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- Ric Edelman, Founder of the Digital Assets Council of Financial Professionals
- Previous appearance on Unchained: Financial Advisors Control $5 Trillion in Investor Wealth. Are They Buying Bitcoin?
Previous coverage on spot Bitcoin ETFs:
- How Much Money Will Flow Into Bitcoin ETFs? Here’s One Projection
- Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10
- Why It Looks Like BlackRock Could Win America’s First Spot Bitcoin ETF
- The Chopping Block: Are We Back? The ‘Low IQ’ Response to the Potential Spot Bitcoin ETF
- CoinDesk: BlackRock Bitcoin ETF in August Got on DTCC Site That Just Belatedly Moved Markets