“The survey shows that interest in crypto among financial advisors is growing, despite the recent bear market,” said Hougan. “Advisors are getting questions from clients about crypto and are increasingly thinking about adding a small crypto allocation to client portfolios. We expect this to accelerate throughout 2019 as new firms like Fidelity, NYSE and others enter the space.”
The survey was conducted during the month of December 2018 and asked more than 150 financial advisors a series of questions on cryptoassets and their use in client portfolios. Survey respondents included independent registered investment advisors (RIAs), independent broker dealer representatives, financial planners and wirehouse representatives.
Among the key findings:
- 79% of all financial advisors surveyed received questions from clients on crypto in 2018.
- 9% of surveyed advisors currently manage an allocation to crypto in client portfolios.
- 22% of surveyed advisors plan to either start a new allocation to crypto or increase their existing allocation to crypto in client accounts in 2019.
- 55% of surveyed financial advisors expect the price of bitcoin to appreciate over the next 5 years. The mean price target for December 31, 2023, is $17,571.
Complete findings from the survey are available here: http://static.bitwiseinvestments.com/Research/Bitwise-Research-ETF-Trends.pdf
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