Financial advisers want a bitcoin ETF, but less than half expect approval: Survey

More than half of financial advisers don’t expect a spot bitcoin ETF to come to market this year, a new survey found.

Yet some professional investors recognize that the approval would ease their concerns about directing funds into this sector.

The US Securities and Exchange Commission is set to rule on a spot bitcoin ETF proposed by Ark Invest and 21Shares — and potentially a bunch of others — by Jan. 10. 

Bloomberg Intelligence analysts have quantified the chance of approval at 90%, with them and others citing BlackRock’s entrance into the race and Grayscale Investments’ August court win against the SEC. Some disagree, noting SEC leadership has not indicated a willingness to…

Read more on Blockworks

72.6K Reads