Bitwise and VettaFi's annual survey highlights that cryptocurrency ETFs are the preferred choice for financial advisors, who are seeing their clients' interest in digital assets grow exponentially.
According to the recently released seventh annual Bitwise and VettaFi survey, 96% of financial advisors in the United States received questions from their clients about cryptocurrencies over the past year. This data not only reflects the growing interest of investors in digital assets, but also marks a significant shift in the way traditional finance professionals should approach this emerging market.
The survey, which was conducted between November 14 and December 20, 2024, following Donald Trump’s election victory and the approval of Bitcoin and Ethereum spot ETFs, collected responses from over 400 financial advisors, including registered investment advisors, broker representatives, and financial planners. The results paint a picture where cryptocurrencies are becoming an integral part of investment portfolios.
Interest in cryptocurrencies hits record levels in the United States
One of the most notable findings of the survey is that the 96% of advisors received inquiries about cryptocurrencies in 2024This percentage, which remains in line with data from previous years, confirms that customer interest not only persists, but continues to grow.
Matt Hougan, Bitwise's chief investment officer, said about:
“If you had any doubt that 2024 was a massive inflection point for crypto, this survey dispels it. Advisors are waking up to the potential of crypto like never before, and they are allocating resources like never before.”
But the growing interest in cryptocurrencies was not limited to general questions, the report said. According to Bitwise, advisors reported that their clients are increasingly interested in How to integrate cryptocurrencies into your investment portfolios, especially through regulated vehicles such as exchange-traded funds or ETFs.
The survey revealed that cryptocurrency ETFs are the preferred choice for financial advisors to expose their clients to this market. In particular, Bitcoin and Ethereum ETFs, which were approved in 2024, have played a crucial role in this trend.
Todd Rosenbluth, head of research at VettaFi, noted that he has been working with Bitwise to survey advisor sentiment toward crypto since before Bitcoin spot ETFs were approved and changed the game.
“We have never been more excited than we are now. The future is very bright as advisors and investors gain more access and education about the potential benefits.”, Rosenbluth said of these spot ETFs.
Cryptocurrency allocation doubled in a year
Another revealing fact from the survey is that 22% of advisors already allocate cryptocurrencies in their clients' portfolios, representing a 100% increase from the 11% recorded in 2023. This exponential growth reflects the increased confidence that investors and advisors have in these assets, driven in part by the approval of Bitcoin and Ethereum ETFs in the United States.
Besides, and99% of advisors who already have exposure to cryptocurrencies plan to maintain or increase their allocations in 2025This level of engagement suggests that once advisors become familiar with cryptocurrencies, they tend to permanently integrate them into their investment strategies.
However, despite growing interest, the survey also identified significant barriers to institutional adoption of cryptocurrencies. Only 35% of advisors reported that they are able to purchase cryptocurrencies in their clients’ accounts, indicating that access remains a significant challenge. Additionally, 71% of advisors noted that some or all of their clients are investing in cryptocurrencies on their own, outside of the advisor relationship.
On the other hand, regulatory uncertainty, although it has decreased significantly, remains an obstacle for some. In this regard, 50% of advisors cited the lack of regulatory clarity as the main impediment to future investments in cryptocurrencies. However, this figure is, at the same time, encouraging, when compared to the 60-65% recorded in previous surveys. This percentage reflects a change in the regulatory environment, which is becoming clearer and more favorable, especially after the approval of Bitcoin and Ethereum ETFs.
The future of cryptocurrency investments
The results of the Bitwise and VettaFi survey paint an optimistic picture for the future of cryptocurrencies in the traditional financial space. With client interest at an all-time high and advisors increasingly willing to allocate resources to these assets, the market is entering a new phase of mass adoption.
However, there are still challenges to overcome before we see greater integration of these cryptoassets into traditional investment portfolios.
Matt Hougan summed it up eloquently:
“Perhaps what’s most surprising is how far we still have to go. Two-thirds of all financial advisors, who advise millions of Americans and manage trillions in assets, are still unable to access cryptocurrencies for their clients. We see this changing by 2025 as the mainstream era of crypto continues to advance.”
In summary, Bitwise and VettaFi’s annual survey confirms that cryptocurrencies are gaining ground in the world of traditional finance. With record interest from clients and a growing willingness from advisors to allocate resources to these assets, the market is undergoing an unprecedented transformation.
Bitcoin and Ethereum ETFs have played a key role in this process, offering investors a regulated and accessible way to gain exposure to cryptocurrencies.
