ChainCatcher news, billionaire investor Bill Miller recently stated in an interview that he expects financial advisors to start recommending a 1% to 3% allocation of Bitcoin in investment portfolios within the next three to five years.He said, "This is the only economic entity whose supply is not affected by demand or price. At the most basic level, you just need to believe that the demand for Bitcoin will grow faster than the supply."He pointed out that if more people want to buy Bitcoin, its price will continue to rise because its supply will not increase, which is different from gold. Earlier this year, JPMorgan found that after adjusting for volatility, Bitcoin's weight in investor portfolio allocations exceeded that of gold, with its allocation being 3.7 times that of gold.

ChainCatcher news, according to The Block, Bitwise Chief Investment Officer Matt Hougan stated that an increasing number of top financial advisors are allocating cryptocurrency assets in their personal investment portfolios.At the Barron's Advisor 100 Summit held in Florida last week, Hougan mentioned that about 70% of advisors own Bitcoin or other cryptocurrency assets, while in the previous two years, this figure was only 10%-20%.Although many advisors' client accounts have not yet allocated Bitcoin, Hougan predicts that as advisors increase their personal allocations, client investments will follow closely behind, potentially seeing significant changes within 6 to 12 months. He believes this is an important signal of the financial industry's growing acceptance of cryptocurrency.

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.

ChainCatcher news, BlackRock ETF and Index Investment Chief Investment Officer Samara Cohen stated at the Coinbase cryptocurrency summit in New York that currently about 80% of Bitcoin ETF purchases may come from "self-directed investors, who typically allocate through online brokerage accounts." According to the last quarter's 13-F filings, hedge funds and brokerage firms have also become buyers, but registered investment advisors are somewhat more "cautious." Financial advisors' concerns about Bitcoin include the volatility of cryptocurrency prices and its relatively short track record.Samara Cohen stated that Bitcoin ETFs can serve as a bridge between cryptocurrency and traditional finance.

ChainCatcher news, according to a report by CoreData, only 1% of financial advisors say they frequently discuss cryptocurrency with clients, due to concerns that if issues arise with the products, it could lead to heavy legal costs.In its report on cryptocurrency investors in Australia, the company identified that 89% of financial advisors stated they have never provided advice on cryptocurrency, indicating that there is little professional guidance on the subject.It added, "One of the most prominent reasons advisors do not discuss cryptocurrency is the concern of not being covered by professional indemnity (PI) insurance. Without PI insurance, if a client claims that their advice led to financial loss or harm, the advisor would face significant legal costs."

ChainCatcher news, according to Bitcoin Magazine, independent financial advisory firm Signal Advisors reported in documents filed with the U.S. Securities and Exchange Commission that the company holds 20,571 shares of the BlackRock Bitcoin Spot ETF.

ChainCatcher news, the cryptocurrency trading platform Finblox supported by Dragonfly and Sequoia, has launched the AI financial advisor FinGPT, a tool that enables users to optimize their crypto asset portfolios using AI algorithms, providing personalized advice within the Finblox ecosystem.It is reported that Finblox announced that the public sale of its native token FBX will end on May 17, and token holders can access exclusive FinGPT features using FBX, burn tokens for processing power, and stake tokens for rewards. (Source link)

ChainCatcher news, according to Protos, Harvard University professor and former chief financial advisor to the Obama administration Larry Summers has stated that he left DCG a few months ago. Summers joined DCG as a senior advisor in 2016, a year after the company was founded.In November, DCG's website still listed Larry Summers as a member of the company's advisory board, but this information has since been removed from DCG's website. Summers' personal website was updated on Wednesday, removing all references to his six-and-a-half-year relationship with DCG. (Source link)

ChainCatcher news, according to a report by The Wall Street Journal citing informed sources, the FTX creditors' committee has hired Jefferies and FTI Consulting Inc. as financial advisors.ChainCatcher previously reported that the FTX creditors' committee had hired the law firm Paul Hastings LLP last week. This committee consists of 9 members and is currently the only client group that can charge legal and advisory fees to FTX. (Source link)

ChainCatcher news, Cameron Winklevoss, president and CEO of the cryptocurrency exchange platform Gemini, stated that the creditors' committee financial advisor Houlihan Lokey has begun advocating for a plan to address the liquidity issues of Genesis and DCG and provide a pathway for fund recovery. It is still in the early stages, discussions are ongoing, but a notice will be issued when more information is available.It is reported that Houlihan Lokey is a U.S.-based multinational independent investment bank and financial services company, primarily serving in areas including mergers and acquisitions, capital markets, financial restructuring, and valuation. On December 6, Gemini announced that it had formed a creditors' committee with other creditors to jointly address the issues; returning customer funds is the company's top priority. (source link)