Ric Edelman, founder of the Digital Assets Council of Financial Professionals and author of 'The Truth About Crypto,' dives into the evolving landscape of Bitcoin ETFs. He highlights that while only 12% of advisors currently recommend Bitcoin, a staggering 77% are waiting for a spot Bitcoin ETF to emerge. Edelman discusses how FTX's collapse has shifted perceptions and the low knowledge among advisors regarding crypto. He also explains why interest in futures ETFs has been lukewarm compared to the anticipated enthusiasm for spot ETFs.
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insights INSIGHT
Advisor Interest in Spot Bitcoin ETF
Financial advisors are eager for a spot Bitcoin ETF due to regulatory confusion around crypto and the ETF's ease of use.
Many advisors already own Bitcoin personally, but current investment products are too cumbersome for client portfolios.
insights INSIGHT
Current Bitcoin Recommendation Rate Among Advisors
Only 12% of financial advisors currently recommend Bitcoin to clients.
This is due to regulatory hurdles and cumbersome existing crypto products.
insights INSIGHT
Advisor Bitcoin Ownership and ETF Anticipation
47% of financial advisors personally own Bitcoin, demonstrating an understanding of its potential.
77% await a spot Bitcoin ETF to offer it to clients due to regulatory clarity and ease of use.
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A Practical, Easy-to-Understand Guide to Bitcoin, Blockchain, NFTs, and Other Digital Assets
Ric Edelman
In *The Truth About Crypto*, Ric Edelman provides a comprehensive and accessible guide to the world of digital assets, including Bitcoin, blockchain, NFTs, and more. The book explains how blockchain technology is transforming global commerce and offers practical advice for investors looking to engage with this new asset class. Edelman highlights the potential economic impact of blockchain, which could add nearly $2 trillion to the global economy by 2030.
The Cryptopians
Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze
Laura Shin
The Cryptopians delves into the story of idealists, technologists, and opportunists fighting to bring cryptocurrency to the masses. The book focuses on the founding of Ethereum by Vitalik Buterin and the subsequent crypto fever it created. It introduces readers to larger-than-life characters such as Buterin, Charles Hoskinson, and Joe Lubin, highlighting the personal and professional conflicts that shaped the early days of Ethereum. The narrative explores the booms, busts, and internecine wars within the crypto world, revealing it as a deeply personal struggle to influence the coming revolution in money, culture, and power.
According to surveys of financial advisors, only 12% are currently recommending that clients invest in Bitcoin, while 47% of advisors personally own Bitcoin and a whopping 77% say they are waiting for a spot Bitcoin ETF to become available so they can offer it to their clients.
On this episode of Unchained, Ric Edelman, founder of the Digital Assets Council of Financial Professionals and author of “The Truth About Crypto,” explains how this should all lead to high demand once the first spot Bitcoin ETFs become available, although it will take some time for them to allocate. Edelman also discusses how FTX’s implosion impacted advisor perceptions of crypto, why investors have not been that excited by crypto futures ETFs, and which Bitcoin ETF issuers he believes are likely to be the big winners.
how regulatory confusion keeps financial advisors away from recommending Bitcoin to their clients
how the collapse of FTX affected financial advisors’ interest in crypto, according to Ric
how the knowledge level of financial advisors about Bitcoin is "extraordinarily low"
why 77% of investment advisors are willing to buy a spot Bitcoin ETF
why there wasn't a huge interest from advisors after the launch of Bitcoin futures ETFs
the percentage of client portfolios that he expects they will allocate to BTC
why Ric thinks there won't be huge inflows immediately after the approval of spot BTC ETFs
how financial advisors will decide whose ETF to buy, among the 12 potential issuers
why he believes spot Ethereum ETFs have great growth potential
why he thinks tokenization might be the "next big thing" that will increase institutional activity
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