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San Francisco – (business wire) — Bitwise Asset Management, the world’s leading cryptocurrency index fund manager, and VettaFi, a leading data-driven ETF platform, today announce the results of the 5th Annual Bitwise/VettaFi 2023 Benchmark Study Did. Despite the sharp market correction in 2022, financial advisors remain heavily involved in the cryptocurrency market, according to the survey, with 15% assigning clients to his account and 90% asking clients for inbound questions about the space. I have received
Importantly, the study also showed that the majority of advisors have clients investing in cryptocurrencies outside of their advisory relationship. One reason is access. Only 29% of his advisors reported that his clients had access to cryptocurrencies on his accounts, with the rest blocked by company policy. This provides a significant opportunity to improve access to this space in order to enable advisors to better serve their clients.
Key findings include:
Short-term bearish, long-term bullish
63% of respondents believe the price of Bitcoin will fall this year. However, 60% believe he will be taller in five years.
Cryptocurrency Allocations Stable Despite Market Volatility
15% of advisors reported having allocated cryptocurrency on their client accounts in the past year. This is about the same as last year’s survey (16%), and in 2021 (9%) he is well ahead of 2020 (6%).
Client interest remains strong
Last year, 90% of advisors received cryptocurrency questions from their clients. Despite market performance, the most common question was, “Should I consider investing in cryptocurrencies?”
Once invested, tend to keep investing (or invest more)
Despite market volatility, 78% of advisors currently assigned to client accounts plan to maintain or increase their exposure in 2023.
Access is a Barrier to Adoption
Only 29% of advisors said they could buy cryptocurrencies with their clients’ accounts. Of that group, 52% are now assigning on behalf of their clients, showing how important access is.
big business opportunity
59% of advisors say “some” or “all” of their clients invest in cryptocurrencies on their own outside of advisory relationships. This is a huge business opportunity for advisors and an area where they can help their clients make smarter choices.
Crypto Stock ETFs Dominate Advisor Interests
When asked which exposures they were most interested in allocating to in 2023, advisors most often chose “Crypto Equity ETFs.”
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Bitwise Asset Management Chief Investment Officer Matt Hogan said, “This research is a reminder that crypto is one of the top business development opportunities in the financial advisor market.” 90% of advisors report answering client questions, and the majority say they have clients investing in cryptocurrencies outside of their advisory relationship. This is the year to bring into the company.”
Todd Rosenbluth, Head of Research at VettaFi, said: “Interest is still high for those with a long-term focus.”
Over 400 financial advisors answered a series of questions about crypto assets and their use in client portfolios. Survey respondents include independent registered investment advisors, broker-dealer representatives, financial planners and Wirehouse representatives from all over the United States.
The full findings of the study are available in the report here.
About bitwise
Based in San Francisco, Bitwise is one of the largest and fastest growing crypto asset managers. The company manages the world’s largest crypto index fund (OTCQX: BITW) and is known for pioneering products spanning Bitcoin, Ethereum, DeFi, and crypto-focused equity indices. Bitwise focuses on providing quality education and research in partnership with financial advisors and investment professionals. The Bitwise team combines technology expertise with decades of traditional asset management and indexing experience from companies such as BlackRock, Blackstone, Meta, Google and the US Department of Justice. Bitwise is backed by leading institutional investors and asset management executives and has been featured in Institutional Investor, CNBC, Barron’s, Bloomberg and The Wall Street Journal. For more information, see: www.bitwiseinvestments.com.
About VettaFi
VettaFi is the data, analytics and thought leadership company that transforms financial services from industry to community, one relationship at a time. Engaging millions of investors each year, VettaFi builds his industry-leading, data-driven ETF platform built to empower and educate the modern financial advisor and institutional investor. I am growing. In addition to providing interactive online tools and research, VettaFi provides asset managers with a suite of indexing and digital distribution solutions to innovate and expand their businesses. For more information, see: www.vettafi.com.
Important disclosure
Opinions expressed herein are intended to provide insight or education and are not intended as individual investment advice. Bitwise makes no representation that this information is accurate or complete and should not be relied upon as such.
Some Bitwise investment products may expose you to risks associated with investing in crypto assets, including cryptocurrencies and crypto tokens. Crypto-assets are highly speculative assets as they are new innovations with limited history. Future regulatory actions or policies may restrict the sale, exchange or use of crypto assets. The price of crypto-assets may be affected by the trading of a small number of owners of such crypto-assets. Crypto-assets may experience a decline in popularity, acceptance or use, which may affect their price.
Before making any investment decision with respect to the Fund or shares of the Fund, each investor should make its own examination and research of the Fund, including the benefits and risks associated with investing in the Fund or shares. Any investment decision, including the determination of whether the Fund is a suitable investment for investors, shall be based on such research and investigation and shall not rely on Bitwise or the Fund in making such investment decision. not. Prospective investors should not interpret the contents of this communication as legal, tax, investment or other advice. Each prospective investor agrees to be fully informed of the legal, tax, regulatory, financial, accounting and similar consequences of investing in the Fund, the suitability of such investment for such investor, and any other relevant matters relating to its investment in the Fund. We recommend that you consult with your own advisor. .
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