Financial Firms Receive 90% Of Inquiries on Cryptocurrency: Survey

Vinod Dsouza
Source: Twitter

A new survey sheds light that investors are curious to know more about cryptocurrency prospects and their ability to deliver returns. The study shows that around 90% of inquiries that financial advisors receive revolve around investing in cryptocurrencies.

The survey conducted in late 2022 saw participation from 491 financial advisors, including independent registered investment advisors, broker-dealer representatives, financial planners, and wirehouse representatives. The research was conducted by Bitwise Asset Management, which is a U.S based index fund manager.

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The overall survey suggests that 91% of all inquiries received from clients were mostly directly or indirectly about cryptocurrencies.

“Should I consider investing in crypto?” was the standard query that financial advisers received in 2022. However, the majority of clients were most interested in Bitcoin than any other digital asset available in the markets.

“While advisors’ interest in Bitcoin was roughly 41%, twice that of Ethereum 20%. Their bullishness toward the two largest crypto assets was almost evenly split,” described Bitwise.

“Despite the sharp market correction of 2022, financial advisors remain highly engaged in crypto markets. 90% receiving inbound questions from clients about the (crypto) space,” the survey concluded.

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The survey suggests that global investors are keen on cryptocurrencies. The ecosystem is beginning to attract first-time investors again in spite of a bearish market. A handful of investors believe that cryptocurrencies can deliver life-changing gains more than traditional establishments like the stock markets.

The recent media frenzy about digital assets is also the leading cause for investors to consider entering the markets. “The survey is a reminder that crypto is one of the best business development opportunities in the financial advisor market,” Bitwise’s Chief Investment Officer Matt Hougan, summed it up.