Bitcoin ETF Adoption Lags with Financial Advisors
CryptoNewsTerminal Staff31 May, 2024
Bitcoin ETF Adoption Lags with Financial Advisors
Financial advisors aren't biting on Bitcoin ETFs. Despite the hype surrounding these products, CNBC reports that they have yet to gain traction among those who guide investors. The appeal of Bitcoin ETFs was that financial advisors could offer them to their clients as an easy way to get exposure to Bitcoin. But nearly six months after the first Bitcoin ETF launched, there's little evidence that advisors are recommending them. That's not to say that Bitcoin ETFs are a flop. By most measures, they've been a success. But they're not yet gaining the widespread adoption that was expected. Lee Baker, founder of Apex Financial Services, says that he believes Bitcoin ETFs will eventually become more popular with financial advisors. "As they build more of a track record, there's a higher probability that they'll start adding it to client portfolios," he said. But for now, Bitcoin ETFs remain a niche product, only appealing to a small number of investors.
