CandleFocus 70% of Top US Financial Advisors Now Hold Crypto, Client Adoption Could Follow Soon: Bitwise CIO
2024-09-25
Author: Content Editor
Matt Hougan, Chief Investment Officer of Bitwise Asset Management, revealed that 70% of financial advisors attending the Barron's Advisor 100 Summit now personally hold cryptocurrency, a significant increase from just two years ago. This shift reflects growing confidence in digital assets among the financial elite. While personal interest in crypto is high, the number of advisors allocating it to client portfolios remains low due to restrictions from broker-dealers. However, Hougan believes this will change soon and expects client allocations to follow 6 to 12 months later. Hougan also highlighted bullish factors in the cryptocurrency market, including the US Federal Reserve's rate cut and the approval of options on spot Bitcoin ETFs by the SEC.
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