Spot crypto ETFs fail to bridge gap as most advisors lack crypto buying capabilities: Bitwise

Accessing crypto investments remains a challenge for advisors; Despite the rise of spot Bitcoin and Ethereum ETFs in 2024, only 35% can invest in customer accounts.

Cryptocurrency’s mainstream appeal is growing, but access limitations for advisors are causing many clients to invest outside of the advisory relationship.

A new survey by Bitwise Asset Management and ETF data provider VettaFi finds that most financial advisors still face challenges accessing crypto for their clients. Only 35% of advisors said they could purchase crypto from their client accounts, highlighting a major barrier to wider adoption.

Advisors’ clients show interest in crypto | Source: Bitsel

Over 400 financial advisors participated in the survey, which was conducted between November 14 and December 20, 2024. It showed that although crypto allocations doubled year over year to 22%, access issues still persist. Meanwhile, 71% of advisors reported that “some” or “all” of their clients are independently investing in crypto outside of the advisory relationship.

Bitwise CIO Matt Hougan stated that advisors are “waking up to the potential of crypto like never before and allocating like never before.”

“But perhaps most surprising is how much space we still have to run because two-thirds of financial advisors who advise millions of Americans and manage trillions in assets still lack access to crypto for clients.”

Matt Hougan

While there are still some hurdles, interest remains strong. Ninety-six percent of advisors received crypto-related inquiries from clients in 2024, and 99% of advisors with existing crypto allocations plan to maintain or increase their exposure in 2025.

The findings also showed increased optimism among advisors. According to the report, 19 percent of those who have not yet invested in crypto said they would take on more risk in 2025, more than double last year’s figure.