A Bitwise report published on January 4 states that less than half of advisors anticipate a spot Bitcoin ETF in 2024.
According to the report, Bloomberg ETF analysts believe that a Bitcoin ETF will be approved in January 2024, even though only 39% of advisors anticipate this happening.
Still, 88% of advisors say that if a spot ETF is approved, they would buy Bitcoin. The survey also revealed that just 19% of advisors said they could purchase cryptocurrency for their clients’ accounts.
Still, the US cryptocurrency community is waiting for the much-anticipated Bitcoin ETF to be approved.
In 2024, 98% of advisors with cryptocurrency allocations in client accounts intend to either keep or grow that exposure.
James Seyffart, an analyst for Bloomberg ETFs, expressed surprise that only 39% of advisors in a Bitwise survey expected approvals this year. Citing extensive coverage in the media and 90% expert odds, he proposed that years of false starts had damaged confidence.