Money managers may need to step up their approach to digital assets, with more than a third of young, affluent investors in a recent US survey indicating they’ve switched from advisors that don’t offer crypto exposure.
ZeroHash’s crypto payment provider survey Of 500 US investors aged 18 to 40, released on Wednesday, it was found that 35% moved money to advisors that did not offer access to crypto.
Those surveyed had an income between $100,000 and $1 million, and more than half of those who switched money due to a lack of crypto offerings advisers said they switched between $250,000 and $1 million.
Recently Crypto has enjoyed an ultra-friendly Policy Environment in the US, and some wealth advisors are still playing catch-up as Younger investors are less risk-averse Compared to previous generations.
Zerohash said that more than four-fifths of those surveyed said their trust in crypto has been boosted by its adoption by major financial institutions such as BlackRock, Fidelity and Morgan Stanley.
Crypto holdings are widespread and set to grow
Zerohash found that respondents with incomes of $500,000 and above were “leading the way out,” with half switching from advisors to access crypto.
The survey also found 84% of all respondents planned to increase their crypto holdings in the next year, with nearly half saying they would “increase their holdings significantly.”
Counselors are “Dangerous to Fall”
Zerohash said the findings show that crypto “has become integral to the modern portfolio strategy” and that many wealthy investors “are not waiting for their private wealth managers to catch up.”
“Advisors who adapt early can boost client loyalty and capture new growth, while those who delay risk falling,” they said.
Related: US government opening could unleash floods on crypto ETFs: analyst
They added that investors are clear about their expectations and want “insured, compliant access to crypto.”
Zerohash said based on the results of its survey, its playbook for advisors to win over investors is to offer crypto on “the same dashboard as traditional assets” with insured safeguards.
“Investors expect more from Bitcoin and Ethereum,” it added. “Ninety-two percent said access to a wider range of digital assets was important.”
Meanwhile, asset managers have begun offering exchange-traded products with exposure to a wide range of cryptocurrencies, with products tied to altcoins including Solana (Sol), Xrp (XRP) and dogecoin (Doge).
Many novel products featured Stakingthat reward users for locking tokens to secure a blockchain. Major Issuer BlackRock also seems set to offer Staking Exposure, Filing for a staked ether (Eth) Delaware exchange-traded funds on Wednesday.
Magazine: Sharplink exec shocked at level of BTC and ETH etf Hodling – Joseph Chalom
