This year, the spot Bitcoin ETF approval by the US Securities and Exchange Commission (SEC) is deemed certain by just 39% of financial advisors, according to a recent survey.
The survey’s findings demonstrate that financial advisors are generally skeptical of the commission’s decision to approve a spot Bitcoin exchange-traded fund (ETF).
There are several reasons for this lack of assurance. The SEC’s cautious and conservative past handling of cryptocurrency-related items is the first and most important factor.
Advisors Skeptical: SEC’s Bitcoin ETF Fate
Financial advisors appear pessimistic about the SEC’s approval of the spot Bitcoin ETF this year, based a survey conducted by Bitwise and VettaFi.
LESS THAN HALF OF ALL ADVISORS EXPECT A SPOT BITCOIN ETF IN 2024…
In a surprising development, only 39% of advisors believe a spot bitcoin ETF will be approved in 2024. By contrast, Bloomberg ETF analysts peg the likelihood of a January approval at 90%.
— Bitwise (@BitwiseInvest) January 4, 2024
On January 10, a number of financial institutions, including BlackRock, Inc., VanEck, and Valkyrie Investments, will find out the regulatory body’s judgment about their spot ETF applications for Bitcoin.
Among the over 400 respondents to the poll, independent registered investment advisers (RIAs) made up nearly half of the sample. The remaining group included institutional investors, financial planners, broker-dealer reps, and other investment specialists.
Bitwise Chief Investment Officer Matt Hougan said:
“If you want to gauge where crypto is going, you need to talk to the professionals who control roughly half the wealth in America.”
Hougan highlighted a notable discrepanc
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Author: Yuna Rin
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