GettyA new report (PDF) from Bitwise and ETF Trends has looked into how financial advisors think about Bitcoin and other cryptocurrencies. Notably, the report indicates that roughly 9% of independent registered investment advisors (RIA) currently allocate a percentage of client funds to crypto assets. A variety of reasons for potentially adding Bitcoin exposure to client portfolios are provided in the survey, but the fact that the cryptocurrency is largely uncorrelated with other asset classes is the most highly-cited factor for financial advisors. That said, only 9% of financial advisors surveyed in the report view “inflation hedging” as a reason to add crypto assets to a portfolio. Additionally, 26% of financial advisors view client demand as a reason for Bitcoin’s attractiveness, with another 23% enjoying the fact that it’s simply something new to offer their clients.

Source: Forbes January 16, 2020 03:00 UTC