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Currently, independent Registered Investment Advisors allocate 9% of client funds to crypto investment. So reports Forbes.

bitcoin 2007769 1280Financial advisors, overall, allocation only 6% of client assets in cryptocurrencies. However, a new survey suggests FAs might double their investment in crypto this year. Many financial advisors (54%) find Bitcoin attractive because of its lack of correlation to other asset classes. There is also a $50,000 Bitcoin price prediction for 2020.

Bitcoin currency is going in the right direction. However, FAs also express concern about crypto allocations. They include:

  • Regulatory concerns (56%)
  • Too volatile (43%)
  • No idea how to value cryptocurrencies (41%)
  • Lack of easily accessible investment vehicles like ETFs or mutual funds (39%)
  • Custody concerns/fear of hacks (34%)
  • Lack of understanding (31%)

Read the full article from Forbes.

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