A new survey shows that investors are curious to learn more about cryptocurrency prospects and their ability to generate returns. The research shows that approximately 90% of inquiries received by financial advisors relate to investing in cryptocurrencies.
Conducted in late 2022, the survey included 491 financial advisors, including independent registered investment advisors, broker-dealer representatives, financial planners, and wirehouse representatives. The research was carried out by Bitwise asset managementa US-based index fund manager.
The overall research suggests that 91% of all inquiries received from customers were mostly directly or indirectly about cryptocurrencies.
“Should I consider investing in crypto?” was the standard question financial advisors received in 2022. However, the majority of customers were most interested in Bitcoin than any other digital asset available in the market.
“While advisor interest in Bitcoin was about 41%, twice that of Ethereum was 20%. Their bullishness towards the two largest crypto assets was almost evenly split. described Bitwise.
“Despite the sharp market correction of 2022, financial advisors remain very involved in crypto markets. 90% receive incoming inquiries from customers about the (crypto)space.” concluded the study.
The rise of the cryptocurrency markets
The research suggests that global investors are excited about cryptocurrencies. Despite a bearish market, the ecosystem is starting to attract new investors again. A handful of investors believe that cryptocurrencies can provide more life-changing profits than traditional establishments such as the stock markets.
The recent media frenzy over digital assets is also the main reason for investors to consider entering the markets. “The survey reminds us that crypto is one of the top business development opportunities in the financial advisor market,” Matt Hougan, Chief Investment Officer of Bitwise, summed it up.