- A Nasdaq survey has found that 86% of financial advisers plan to buy more crypto in the next year
- The survey of 500 advisers discovered that none plan to reduce clients’ exposure
- Nasdaq also found that a Bitcoin ETF would dramatically increase crypto adoption
86% of financial advisers plan to increase their exposure to cryptocurrencies in the next 12 months according to a new Nasdaq survey. The survey, which questioned 500 advisers and was published yesterday, found that the crypto sector was still of sufficient interest for them to add to their clients’ portfolios, with none of the respondents saying they were planning to reduce their holdings. The survey also revealed that a Bitcoin ETF would dramatically increase institutional exposure, with 72% more likely to invest client assets in crypto if a spot ETF were offered in the US.
Crypto Correction Hasn’t Dampened Investor Spirits
The Nasdaq survey comes as the cryptocurrency market is experiencing a correction, with Bitcoin possibly testing the $30,000 region in due course, but this doesn’t seem to have dampened the desire for cryptocurrencies among institutions.
The survey, which asked financial advisers who already have crypto holdings and excluded those that don’t, may have been overwhelmingly bullish, but there were hints of concern over the space, most notably with regard to regulations. This is reflected in the finding that the iddeal cap of crypto exposure came out at just 6%.
Nasdaq Exec Says Bitcoin ETF Needed
Jake Rapaport, head of Nasdaq’s digital asset index research, said in a statement that, “The vast majority of advisors we surveyed either plan to begin allocating to crypto or increase their existing allocation to crypto.”
He also added that an “institutional solution to the crypto question” was now dominating client conversations, with a clear nod to a Bitcoin ETF, which doesn’t seem to be any closer to reality following a raft of rejections in recent years.