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At Barron’s Advisor 100 Summit, a noticeable shift in sentiment toward Bitcoin was clear among America’s top financial advisors. Matt Hougan, Chief Investment Officer at Bitwise, conveyed pivotal insights, illustrating the industry’s stance on cryptocurrency, particularly Bitcoin.
Hougan’s speech highlighted an engaging session that indicated a substantial rise in personal investments in Bitcoin by financial advisors.
Compared to a few years ago, when only about 10-20% of attendees had exposure to cryptocurrencies, this year showed a dramatic increase. Notably, around 70% indicated they personally owned crypto assets.
Read more: Who Owns the Most Bitcoin in 2024?
This change is significant; it reflects a deepening interest in cryptocurrencies within professional finance circles. Despite this personal enthusiasm, actual client allocations in Bitcoin are still infrequent. Many advisors face regulatory and institutional barriers that prevent them from including Bitcoin exchange-traded funds (ETFs) in client portfolios.
Moreover, other bullish indicators include recent economic developments such as the Federal Reserve’s rate cut and the SEC’s approval of options on Bitcoin ETFs. These developments, along with the direct observations from the summit, highlight a growing confidence among financial professionals in the viability of Bitcoin as an investment asset.
The spike in advisors’ personal ownership of Bitcoin aligns with the cryptocurrency’s performance. Bitcoin has surged over 50% year-to-date, trading around $64,000, reflecting demand and heightened investor interest.
Bitcoin Price Performance. Source: TradingView
The rising appeal of Bitcoin and Bitcoin ETFs also extends to institutional investors. According to analyst Eric Balchunas, over 1,000 institutional investors now hold Bitcoin ETFs on their balance sheets. Notably, the iShares Bitcoin Trust (IBIT) by BlackRock has 661 institutional holders, with 20% of its shares held by institutions and large advisors.
In addition, there has been a significant shift among the top US hedge funds, with 60% now holding Bitcoin ETFs, a sharp increase from earlier in the year. Firms such as Citadel Securities, Millennium Management, and Fortress Investment are increasing their stakes, emphasizing solid institutional backing for Bitcoin.
Eric Balchunas, a senior analyst at Bloomberg, highlighted the extraordinary growth of Bitcoin ETFs. He predicts a potential doubling of institutional involvement next year. Furthermore, the broader acceptance of Bitcoin ETFs among registered investment advisors indicates a more widespread institutional trust in BTC’s value.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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The post Why Top US Financial Advisors Are Investing in Bitcoin in 2024? appeared first on Panther AI.
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Hougan’s speech highlighted an engaging session that indicated a substantial rise in personal investments in Bitcoin by financial advisors.
Bitcoin is Gradually Becoming Investors’ Favorite
Compared to a few years ago, when only about 10-20% of attendees had exposure to cryptocurrencies, this year showed a dramatic increase. Notably, around 70% indicated they personally owned crypto assets.
Read more: Who Owns the Most Bitcoin in 2024?
This change is significant; it reflects a deepening interest in cryptocurrencies within professional finance circles. Despite this personal enthusiasm, actual client allocations in Bitcoin are still infrequent. Many advisors face regulatory and institutional barriers that prevent them from including Bitcoin exchange-traded funds (ETFs) in client portfolios.
Moreover, other bullish indicators include recent economic developments such as the Federal Reserve’s rate cut and the SEC’s approval of options on Bitcoin ETFs. These developments, along with the direct observations from the summit, highlight a growing confidence among financial professionals in the viability of Bitcoin as an investment asset.
The spike in advisors’ personal ownership of Bitcoin aligns with the cryptocurrency’s performance. Bitcoin has surged over 50% year-to-date, trading around $64,000, reflecting demand and heightened investor interest.
Bitcoin Price Performance. Source: TradingView
The rising appeal of Bitcoin and Bitcoin ETFs also extends to institutional investors. According to analyst Eric Balchunas, over 1,000 institutional investors now hold Bitcoin ETFs on their balance sheets. Notably, the iShares Bitcoin Trust (IBIT) by BlackRock has 661 institutional holders, with 20% of its shares held by institutions and large advisors.
In addition, there has been a significant shift among the top US hedge funds, with 60% now holding Bitcoin ETFs, a sharp increase from earlier in the year. Firms such as Citadel Securities, Millennium Management, and Fortress Investment are increasing their stakes, emphasizing solid institutional backing for Bitcoin.
Eric Balchunas, a senior analyst at Bloomberg, highlighted the extraordinary growth of Bitcoin ETFs. He predicts a potential doubling of institutional involvement next year. Furthermore, the broader acceptance of Bitcoin ETFs among registered investment advisors indicates a more widespread institutional trust in BTC’s value.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Source link
The post Why Top US Financial Advisors Are Investing in Bitcoin in 2024? appeared first on Panther AI.
Continue reading...