Analyst Survey Unveils Interest in Bitcoin ETF, Advisors Seek Options
Market analyst John Todaro, representing Needham, shed light on the market dynamics of two prominent entities, Coinbase Global, Inc (NASDAQ: COIN) and Robinhood Markets, Inc (NASDAQ: HOOD).
His recent survey unveiled intriguing insights into the realm of Bitcoin investments, particularly concerning the prospect of a Bitcoin ETF.
The survey conducted by Todaro encompassed a spectrum of financial advisors (RIAs), Coinbase users, and a cross-section of individuals to delve into their inclinations towards a potential Bitcoin ETF. Surprisingly, the findings highlighted a scarcity of Bitcoin investment avenues among financial advisors for their clients.
While some advisors advocated for direct purchases via crypto exchanges or investing in crypto-related stocks, a notable segment expressed a considerable preference for an ETF option, should one become available. Projections from the survey outlined an anticipated ownership interest ranging from 5% to 10% among clients in a prospective Bitcoin ETF by 2024 or 2025.
However, an intriguing revelation emerged regarding the lack of interest among individuals who have yet to invest in Bitcoin. Only a mere 11% of respondents who hadn’t previously ventured into Bitcoin ownership showed any inclination toward a potential Bitcoin ETF.
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This starkly contrasts with the enthusiasm observed among existing Bitcoin owners, who displayed a slightly favorable leaning towards direct purchases on crypto platforms rather than considering an ETF through traditional equity brokerages.
Moreover, the survey indicated that the potential launch of a Bitcoin ETF might not necessarily drive substantial capital inflows, unless it coincides with a surge in Bitcoin prices or strategic engagements that ignite widespread retail interest in the digital asset.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
