RATE Group | Report Suggests Financial Advisors Moving into Crypto
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Report Suggests Financial Advisors Moving into Crypto

11 Feb Report Suggests Financial Advisors Moving into Crypto

Posted at 07:14h in Cryptocurrency News by

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According to a report released last week by Bitwise, financial advisors are increasingly exploring allocations in crypto. The findings suggest it might be time to buy before the masses arrive.

Bitwise Report Shows Growing Interest in Crypto

Bitwise’s 2020 Benchmark Survey of Financial Advisor Attitudes Toward Cryptoassets revealed that financial advisors are demonstrating a growing interest in allocating client assets in virtual currencies.

The survey, conducted in December last year, asked independent registered investment advisors (RIAs), broker-dealer representatives, financial planners, and wirehouse representatives for their views on making crypto investments on behalf of their clients.

415 responses were gathered, an almost threefold increase in the response rate from a year ago.

The average respondent held between $50 to $99.99 million in assets under management. Only 6% of advisors currently allocate client capital to cryptocurrencies. More than two-thirds of those advisors…

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