Bitwise Survey: 39% of Financial Advisers Pessimistic about Bitcoin ETF Approval in 2024
A recent survey by ETF issuer Bitwise reveals a degree of skepticism among financial advisers.
Because Bitcoin
January 5, 2024
Cointelegraph reported that a recent survey by ETF issuer Bitwise reveals a degree of skepticism among financial advisers. Only 39% of U.S.-based financial advisers, including registered investment advisers, financial planners, institutional investors, and wirehouse representatives, believe that a Bitcoin ETF will be approved in 2024, according to the survey published on Jan. 4.
While some industry experts anticipate ETF approval by Jan. 10, the majority of surveyed advisers (87%) still expect eventual approval, with 22% predicting it in 2025 and 24% forecasting approval after 2025. Despite this, 12% believe approval will never happen. Interestingly, the survey indicates that many advisers, even if skeptical of imminent approval, express a desire to buy Bitcoin for themselves or clients, with 88% preferring to do so after the approval of a spot Bitcoin ETF in the U.S.
ETF issuers have faced challenges securing approval from the U.S. Securities and Exchange Commission for a spot Bitcoin ETF for years.While some experts anticipate approval soon, the SEC has a deadline of Jan. 10 to make a decision on the ARK 21 Shares spot Bitcoin ETF, with other funds facing deadlines in March.
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