In recent months, there has been a notable shift in the perception of cryptocurrency among U.S.-based financial consultants. A survey conducted by Bitwise has unveiled a significant uptick in interest, attributing this trend to the political landscape, particularly following Donald Trump’s return to the White House. The results indicate that over half of the financial advisors surveyed—specifically 56%—have become more willing to invest in cryptocurrencies as a direct response to the outcomes of the 2024 U.S. election. This shift in sentiment is noteworthy, particularly in the context of the broader investment management field, where decision-making typically hinges on economic forecasts and political stability.
The survey, which gathered insights from 430 financial professionals between November 14 and December 20, 2023, reveals not only a rise in favorable attitudes toward crypto investments but also a substantial increase in actual allocations. The growing recognition of cryptocurrency’s potential as a viable asset class is encouraging financial advisors to revisit their portfolios and strategies, a viewpoint encapsulated by Bitwise’s Chief Investment Officer, Matt Hougan. He remarked that if there were any lingering doubts regarding 2024 being a watershed moment for cryptocurrencies, the survey results would undoubtedly dispel them.
A closer inspection of the survey data illustrates an encouraging trend regarding client demand for cryptocurrencies. Flags have been raised over the increasing inquiries that wealth managers are receiving, with a staggering 96% reporting that their clients are actively seeking information about crypto investments. This heightened interest has also translated into actual investments, with the percentage of consultants allocating cryptocurrency to client accounts doubling from 11% in 2023 to 22% in 2024.
Interestingly, the newfound zeal for crypto investments extends beyond just initial purchases. The data reveals a strong commitment from advisors who are currently managing crypto assets. An impressive 99% of these professionals intend to either maintain or increase the cryptocurrency allocations within their clients’ portfolios in 2025. This dedication to incorporating digital assets reflects a larger trend within wealth management, wherein traditional investment strategies are increasingly being augmented with alternative investments such as cryptocurrencies.
Despite the enthusiastic shift towards cryptocurrency investments, the survey also highlights significant barriers that are hampering broader adoption among financial advisors. Currently, only 35% of respondents indicated that they could facilitate cryptocurrency purchases in client accounts. This suggests that a troubling two-thirds of financial consultants still lack the necessary options to provide their clients with access to digital assets—a gap that Hougan emphasizes could be narrowed as long-term adoption continues to gain momentum.
Moreover, the issue of regulatory uncertainty looms large over the cryptocurrency landscape. While 50% of financial consultants cited this as the primary obstacle to future growth—an improvement from 60% and 65% in previous surveys—the sentiment still reflects the anxieties that professionals have regarding compliance and legislative clarity in the cryptocurrency sector. Addressing these concerns would be crucial for ensuring that financial consultants feel empowered to offer diversified investment options without the fear of regulatory repercussions.
As financial consultants begin to recognize the potential of cryptocurrencies as a portfolio diversifier, it is evident that optimism is permeating the investment community. The Bitwise survey data indicates an increasing tendency for these professionals to engage directly with cryptocurrencies—and for those who have not yet entered the space, a pivotal 19% are either “definitely” or “probably” planning to make initial investments in 2025, a significant increase from just 8% the previous year.
The rising popularity of cryptocurrency equity exchange-traded funds (ETFs) among advisors also serves as an attractive avenue for capitalizing on the digital asset space while offsetting some of the risks inherent to direct cryptocurrency transactions. For many, these instruments present a more manageable entry point into the world of crypto, echoing the changing attitudes towards this previously controversial asset class.
The climate for cryptocurrency investment among financial advisors is decidedly transforming. The responses from the Bitwise survey indicate that as confidence grows and barriers gradually diminish, a new era of portfolio management that embraces cryptocurrencies may soon be upon us. Financial consultants, driven by client demand and evolving market sentiment, appear ready to rewire the traditional investment landscape to include this burgeoning asset class.