According to a recent survey, clients of financial advisors continue to have a strong interest in cryptocurrencies.
The survey results show that “despite market performance, the most frequent question was Should I Consider An Investment In Crypto?”
Bullish Financial Advisors on Crypto Long Term
A report titled “Bitwise/Vettafi 2023 Benchmark Survey of Financial Advisor Attitudes Toward Crypto Assets” was released on Tuesday by cryptocurrency asset manager Bitwise Asset Management.
This is Bitwise’s fifth annual study, which was carried out in association with the exchange-traded fund (ETF) website Vettafi.
Financial advisors are still very active in the cryptocurrency markets despite the 2022 market correction, investing 15% of their client accounts and receiving 90% of client inquiries.
According to Matt Hougan, chief investment officer of Bitwise, “the poll is a reminder that cryptocurrency is one of the best business development prospects in the financial advisor market.”
In the long run, the majority of respondents are bullish on bitcoin, but they are bearish this year. 63% of respondents believe that BTC will decline in 2023, while 60% believe that it will rise in that time.
“Advisors’ bullishness toward the two main crypto assets was almost evenly split, even though their interest in bitcoin (41%) was roughly double that of ethereum (20%),” Bitwise said, adding that 53% favoured BTC while 47% preferred ETH.
According to the research, 90% of financial advisors “got a query regarding cryptocurrency from customers last year,” reiterating that client interest in cryptocurrencies “remains strong,” as follows:
The most often asked question, notwithstanding market performance, was “Should I explore an investment in crypto?” The poll also revealed that, “despite market volatility, 78% of advisers who presently have an allocation in client accounts aim to either keep or increase that exposure in 2023.”
Despite the volatility seen in 2022, advisors and their end clients still want to learn more about crypto investing.