UNCHAINED: Why Financial Advisors Are So Excited About a Spot Bitcoin ETF
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 22 November 2023
⏱️ 64 minutes
🧾️ Download transcript
Summary
Financial advisors in the US control $8 trillion in assets. Here’s why 77% are waiting for spot Bitcoin ETFs.
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.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Show highlights |
- 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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Guest |
Ric Edelman, Founder of the Digital Assets Council of Financial Professionals
Previous appearance on Unchained: Financial Advisors Control $5 Trillion in Investor Wealth. Are They Buying Bitcoin?
Links |
Previous coverage on spot Bitcoin ETFs:
How Much Money Will Flow Into Bitcoin ETFs? Here’s One Projection
Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10
Why It Looks Like BlackRock Could Win America’s First Spot Bitcoin ETF
The Chopping Block: Are We Back? The 'Low IQ' Response to the Potential Spot Bitcoin ETF
Unchained:
BlackRock Files for Spot Ethereum ETF
The Bitcoin ETF Is a Double-Edged Sword
Bitcoin ETFs Explained: What Are They & How Do They Work?
CoinDesk: BlackRock Bitcoin ETF in August Got on DTCC Site That Just Belatedly Moved Markets
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Unchained Podcast is Produced by Laura Shin Media, LLC. Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz.
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Transcript
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| 0:49.7 | Thanks for listening to Unchained, your no-hype resource for all things crypto, on the Coin Desk podcast network. You can also listen to the episodes on to Unchained, your no hype resource for all things crypto on the Coin Desk |
| 0:54.9 | Podcast Network. You can also listen to the episodes on the Unchained feed earlier if you subscribe |
| 1:00.6 | there. Plus, check out all our content on our website, Unchained Crypto.com. Not only do 47% of advisors |
| 1:08.8 | personally owned Bitcoin, but 77% of advisors in the last survey |
| 1:13.3 | we've done on this, and that we have seen others doing this, show that they are waiting |
| 1:18.9 | for the spot Bitcoin ETF to become available so that they can provide this to their clients. |
| 1:29.6 | Hi, everyone. |
| 1:30.7 | Welcome to Unchained, your no hype resource for all things crypto. |
| 1:33.9 | I'm your host, Laura Shin, author of The Cryptopians. |
| 1:37.1 | I started covering crypto eight years ago, and as a senior editor of Forbes, |
| 1:41.0 | was the first Mainstream Media Reporter to cover cryptocurrency full-time. |
| 1:44.4 | This is the November 21st, 2023 episode of Unchained. |
... |
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