Number of financial planners investing in crypto increases by 50%

Number of financial planners investing in crypto increases by 50%


A survey published by crypto index fund provider Bitwise Asset Management has found the number of financial advisors allocating capital toward crypto has increased by roughly 50% in one year.

The survey, conducted in partnership with investment website ETF Trends, queried nearly U.S.-based 1,000 financial advisors in December. The findings indicate that 9.4% of client portfolios were exposed to crypto assets — up from 6.3% one year ago.

Of the investment advisors who have not yet allocated to crypto, 15% stated they will “probably” invest in virtual currency during 2021, with 2% stating they will “definitely” invest in the asset class this year.

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Financial planners are much more keen to invest their personal wealth in cryptocurrency, with 24% saying they have already done so.

The global economic fallout from the coronavirus pandemic appears to be the primary motivation that is driving financial planners towards crypto assets, with 54% of respondents describing “uncorrelated returns” as the principal benefit of cryptocurrency

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