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Reports Show Spot ETFs Can Attract Individuals: 72% Says Will Invest In Crypto Assets 

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72% of 500 financial advisors will probably be investing client funds in crypto assets in case the U.S. watchdog allows it as a spot ETF, as per recent research conducted by Nasdaq.

In the coming months, among the participants, almost 86% said that they would grow their exposure over the year. 

More Investors Can Enter Spot Bitcoin ETF 

The U.S. Securities and Exchange Commission (SEC) allowed the Bitcoin Strategy futures-backed ETF, check-marking BITO, last year. The product was the first of its kind to be introduced in the U.S., creating waves of enthusiasm in space. 

Although, there is still the absence of a spot cryptocurrency ETF in the largest economy. Nasdaq was confident that if such a product were introduced, a fresh bunch of investors would join the financial advisors. To be precise, 72% of participants confirmed that after the ETF goes live, they would enter the crypto sphere. 

But only 38% of the participants believe that such a product will be launched this year. 

Meanwhile, many have already invested in the asset class. 86% say they plan to increase their allocation in the coming year. However, no one plans to reduce them. 50% in the group have already invested in Bitcoin future ETFs, while 28% plan to do so in the coming 12 months. 

The adoption of crypto assets is the most among investment advisors who are registered. Meanwhile, 17% of wirehouse advisors and 19% of the independent broker-dealers have confirmed investing in the market. 

These Spot BTC ETFs Were Rejected 

Although the BITO futures-backed ETF got the approval of the top financial regulator, it has become a hurdle in the ambitions of many companies that planned to launch a spot Bitcoin ETF. VanEck, the global investment manager, is one such example. 

The firm was just a step away from launching the first such product in the USA last year, but the SEC dismissed it. The government agency said that VanEck was failing to address the earlier obstacles that were intended to prevent fraud and manipulative practices and acts, at the same time protecting the public interest and investors. 

NYDIG is yet another organization that plans to allow investors to buy and sell shares that track the price of leading cryptocurrencies. But, the SEC delayed the initiative earlier this year. 

SkyBridge Capital, whose owner is Anthony Scaramucci, was also awaiting the commission’s approval for some prior to it but eventually rejected it. 

ALSO READ: South Korean Authorities Considers IEO, STO for Digital Oversight

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