Survey: U.S. Financial Advisors See Surge in Demand for Crypto ETFs, 57% Plan to Increase Investment Allocation This Year
ChainCatcher news, according to CoinDesk, at the Exchange conference held in Las Vegas, Todd Rosenbluth, head of research at TMX VettaFi, and senior investment strategist Cinthia Murphy shared the results of a survey targeting U.S. financial advisors, showing that cryptocurrency exchange-traded funds (ETFs) are receiving widespread attention. 57% of advisors plan to increase their allocation to crypto ETFs this year, while only 1% indicated they would decrease their allocation.Murphy noted, "Last year, investing in cryptocurrency might have been seen as a reputational risk, but now, no advisor can avoid having a basic conversation about cryptocurrency."The survey revealed that advisors particularly favor crypto stock ETFs, which invest in publicly traded companies directly related to the crypto industry, such as Strategy (formerly MicroStrategy) or Tesla. Murphy stated, "Crypto stock ETFs are easier to understand and easier to get into, which may explain their popularity."Additionally, spot crypto ETFs and multi-token funds are also attracting increasing interest. 22% of respondents plan to allocate funds to spot crypto ETFs, such as spot Bitcoin (BTC) or spot Ethereum (ETH) ETFs; another 19% of respondents expressed interest in crypto asset funds that hold multiple tokens.