Survey: Currently, only 2.6% of financial advisors recommend cryptocurrencies to clients

ChainCatcher news, according to Barron's report, based on a new report from Cerulli Associates, since the approval of the first Bitcoin spot ETFs in January this year, the first 11 Bitcoin spot ETFs have accumulated inflows of $13.8 billion. However, almost all of this "newly entered" capital comes from investors who are not following the advice of financial advisors.

In a survey of over 1,500 advisors, only 2.6% of respondents indicated that they would recommend cryptocurrency to clients (up from 1.2% last year). Another 12.1% of respondents said they would discuss cryptocurrency if clients asked about it, but would not bring it up proactively. Slightly more than 26% of advisors stated that they are currently not discussing cryptocurrency with clients but plan to do so in the future. The remaining nearly 59% of advisors indicated that they have no plans to discuss cryptocurrency with clients in the future, highlighting the enthusiasm gap between financial professionals and investors.

Cerulli wrote in its report, "Many indicated that even with the regulatory approval of crypto asset ETFs, advisors' interest in adopting cryptocurrency or discussing it with clients has only seen slight changes."

Notably, Cerulli's survey results stand in stark contrast to a study released in May by the Digital Asset Council for Financial Professionals and Franklin Templeton. In Franklin's survey, 35% of advisors indicated they plan to recommend cryptocurrency to clients in the next six months. However, the sample size of advisors in that survey was much smaller (only 272 people), and the survey itself was conducted by a group promoting cryptocurrency and sponsored by an asset management company that issues Bitcoin spot ETFs.