About 40% of financial advisors said they’re confident that a Bitcoin ETF will be available to American investors in 2024—the rest aren’t so sure, according to a poll by Bitwise.

It’s an interesting outcome, given that most market observers believe the SEC’s blessing for a Bitcoin ETF is likely a foregone conclusion. It’s a matter of when, not if, as crypto giant Grayscale wrote in early December. Yet most professionals charged with the task of advising clients on their investments aren’t so confident, Bitwise says.

The survey also found that even if the majority of advisors don’t think it’s likely a Bitcoin ETF will be approved this year, 88% of respondents interested in purchasing Bitcoin on behalf of their clients are waiting for an ETF to be available.

A spot Bitcoin ETF would give investors a way to add Bitcoin exposure to their portfolios without actually buying and holding Bitcoin. That means they’d get all the benefits of the market without the overhead, like figuring out how to use a hardware wallet or private keys.

About 6 in 10 of the people surveyed said that clients have been dabbling in crypto outside of their relationship with financial advisors—which Bitwise said is a promising sign for firms considering whether to make crypto products available.

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Author: Stacy Elliott

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