Financial advisors would invest more in cryptocurrencies if they had access to ETFs

A Nasdaq survey of US financial advisors found that 72% would be more likely to invest client assets in cryptocurrencies if they had access to a spot ETF product.

However, only 38% of respondents said they believe the Securities and Exchange Commission will approve a spot ETF in 2022.

The consultants with whom the Nasdaq survey was conducted manage about $26 trillion for their clients.

About 40% of them were considering investing in individual cryptocurrencies and 69% said they would consider using an index fund for broad cryptocurrency exposure.

Fortunately, none of the advisors who already own a portion of their cryptocurrency portfolio were planning to reduce it in the next year. The vast majority, 86%, plan to increase their cryptocurrency allocations.