The fifth annual Bitwise/VettaFi 2023 Benchmark Survey of over 400 monetary advisors discovered that these establishments stay extremely engaged in crypto regardless of the droop in bitcoin (BTC) and different cryptocurrencies costs.
Investor curiosity in crypto stays sturdy
Final 12 months, the worldwide digital belongings house went into some of the extreme crypto winters in its 14-year historical past, shedding greater than $2 trillion from its market capitalization, with numerous heavy hitters within the trade going bankrupt.
Nonetheless, in response to the fifth annual Bitwise/VettaFi 2023 Benchmark Survey report, monetary advisors and buyers throughout the USA are nonetheless very a lot keen on crypto. They strongly imagine within the long-term bullish potential of those super-volatile digital belongings.
Per the survey, which questioned greater than 400 monetary advisors on crypto belongings and their use in shopper portfolios, 90% of advisors fielded a query about bitcoin and different crypto belongings from shoppers previously 12 months. Furthermore, 15% stated they allotted crypto in shopper accounts throughout the identical interval.
At a time when some analysts are forecasting that BTC might regain its bullish momentum prior to later, 63% of the survey respondents imagine that the bitcoin worth crash will proceed in 2023, whereas others suppose it might hit one other all-time excessive within the subsequent 5 years.
Commenting on the survey report Matt Hougan, chief funding officer at Bitwise Asset Administration stated:
“The survey is a reminder that crypto is among the finest enterprise growth alternatives within the monetary advisor market. 90 % of advisors report fielding questions from shoppers, and most say they’ve shoppers who spend money on crypto exterior the advisory relationship. 2023 is the 12 months to deliver these investments in-house.”
Matt Hougan, chief funding officer at Bitwise
On the time of writing, bitcoin (BTC) is buying and selling across the $23,000 worth area, up by over 10% previously seven days, whereas the worldwide crypto market cap stands at $1.05 trillion, in response to CoinMarketCap.