Spot Crypto ETF in Demand by Majority of Financial Advisors, Finds New Nasdaq Survey
NEW YORK, April 11, 2022 (GLOBE NEWSWIRE) -- According to a new Nasdaq survey of 500 financial advisors who are currently or considering allocating to crypto, 72% of advisors would be more likely to invest client assets in crypto if a spot ETF product were offered in the United States.
- On average, advisors currently or considering investing in crypto state that their ideal crypto allocation is 6% of a clients total portfolio.
- Despite strong interest in a passive approach to crypto and a spot crypto ETF, the surveyed advisors are not confident that such a product will be approved in 2022.
- The vast majority of advisors we surveyed either plan to begin allocating to crypto or increase their existing allocation to crypto.
- The survey finds that crypto adoption is highest among registered investment advisors (RIAs), with 34% of RIAs using crypto compared to 19% of independent broker-dealers (IBDs) and 17% of wirehouse advisors.