Overview

A majority of U.S. financial advisors are gearing up to enhance their investments in cryptocurrency exchange-traded funds (ETFs). According to new data, 57% of advisors intend to increase their allocations, with only 1% considering a reduction.

Highlights

• Advisors are particularly drawn to crypto equity ETFs, investing in publicly traded companies connected to the crypto sector like Strategy and Tesla.
• There is a growing interest in spot and multi-token ETFs, with 22% planning to allocate funds to spot crypto ETFs and 19% to crypto funds with multiple tokens.

Context

In a session at the Exchange conference in Las Vegas, TMX VettaFi representatives shared insights from a survey targeting financial advisors across the U.S. Murphy noted, “The dialogue about crypto is now prevalent in every advisory discussion.”

The response to the SEC’s approval of spot bitcoin ETFs in January 2024 appears to have propelled significant institutional interest, easing previous reputational concerns associated with crypto investments.

Closing Remarks

As the sector evolves, Murphy recommends connecting with experts to navigate this rapidly changing landscape.

“This is a space that’s only growing, and I highly recommend that you get to know the experts in the space… because this is moving fast, and there’s a lot to learn.”