At the end of 2019, Bitwise, one of the world’s leading providers of crypto index funds, surveyed 415 eligible financial advisors on their exposure / outlook on investing in cryptocurrencies. “The goal was to benchmark how financial advisors—who manage roughly half of all wealth in America—are now thinking about crypto after the developments of 2019, including whether and how they are allocating to crypto in client portfolios.”
More than 75% of the financial advisors surveyed, reported receiving questions from their clients about crypto in 2019. While the Bitwise / ETF Trends 2020 Benchmark Survey Of Financial Advisor Attitudes Toward Cryptoassets Report shows that only around 6% of financial advisors currently have an allocation to crypto in client portfolios, we can see according to the report, that 72% of the advisors surveyed think that their clients may be investing in crypto on their own.
When asked to cite reasons for adding cryptoasset exposure to their portfoltios, 54% stated “low or uncorrelated returns with other asset classes” while others stated high potential returns, client demand, and something new to offer clients.
Overall financial advisors attitudes towards crypto has changed dramtically over the last few years with over 60% of the advisors surveyed expecting the price of crypto, specifcally Bitcoin to rise over the next five years.
Click Here for Full Bitwise Report: https://static.bitwiseinvestments.com/Research/Bitwise-2020-Benchmark-Survey.pdf