Registered investment advisers (RIAs) are crucial for the next phase of cryptocurrency adoption, as they manage investor portfolios but remain skeptical about crypto. A survey indicates that over 55% of RIAs do not expect to discuss crypto with clients, partly due to market volatility and regulatory uncertainties. However, the introduction of Bitcoin and Ether exchange-traded funds (ETFs) in the U.S. has increased interest among RIAs. About a quarter of RIAs are exploring crypto due to client demand. Fund managers report that advisers find Ether easier to explain due to its cash flow potential. Currently, RIAs at wirehouses are restricted from accessing crypto ETFs, but interest is growing, particularly for larger liquid products. Adoption could surge with the inclusion of staking in ETFs, pending regulatory clarity. Overall, certificates of legitimacy from ETF availability may lead to greater adoption of crypto investments among financial advisers.

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