According to a recent Nasdaq survey, 72% of U.S. financial advisors would be highly likely to invest client funds in cryptocurrency, if a spot exchange traded bitcoin fund (ETF) were available in the market.
The survey included 500 financial advisors who control $26 trillion in assets.
86% of respondents who have already invested in cryptocurrency expect to increase their allocations over the next 12 months, with no one stating any plans to reduce such investments.
Of the same group, 50% currently use bitcoin futures ETFs, and another 28% want to start using them in the next 12 months.
Advisors who currently invest in cryptocurrency or are considering investing in cryptocurrency indicate that their ideal digital asset allocation for a client averages 6% of their total portfolio.
“The vast majority of advisors we surveyed either plan to start allocating to cryptocurrencies or increase their existing allocation. As demand continues to grow, advisors will be looking for an institutional solution to the cryptocurrency issue,” said Jake Rapaport, head of digital asset index research at Nasdaq.