According to a new Nasdaq survey of 500 investment advisors, 72% of investment advisors are more likely to invest client assets in cryptocurrencies if the U.S. offers a spot BTC ETF, and 86% say they plan to invest in cryptocurrencies in the next 12 Increase crypto investment allocation during the month.
Additionally, 9 out of 10 financial investment advisors that have already invested in cryptocurrencies are expected to continue increasing their crypto allocations, and the approval of spot crypto ETFs will help accelerate further adoption.
However, the SEC has so far not approved products that directly invest in cryptocurrencies such as Bitcoin, with 31% of respondents to a Nasdaq survey saying they believe such products are unlikely to be approved this year, Intelligence Analysts say a spot Bitcoin ETF is expected to be approved by mid-2023.