Bitwise Asset Management, a group that founded the first cryptocurrency index fund and a prominent company in the space, recently put out a survey which found that many financial advisors are afraid to enter the cryptocurrency space due simply to a lack of regulation.
This survey, which asked 415 advisors in December a variety of questions regarding the space, also found that they’re incredibly adamant about the future of Bitcoin and cryptocurrencies despite being so hesitant to put money into it, according to CoinDesk.
Speaking on the matter to the publication is Matt Hougan, the global head of research at Bitwise, who had said:
“Advisors are intrigued by crypto’s proven history of delivering uncorrelated returns or high returns.”
Considering the fact that Bitcoin is incredibly volatile, not to mention the thousands of other altcoins out there, it’s understandable why investors are taking an interest in this latest form of technological assets that are a bit unlike anything we’ve seen beforehand.
However, considering the fact that regulations are taking quite a while to go through, especially in the United States, it shouldn’t come as a surprise that these advisors are taking their time putting money into the market, despite taking quite an interest in it as observers.
“Crypto people are over-focused on institutions as the next wave of adopters and under-focused on advisors, who control just as much as the institutions,” continued Hougan. However, he noted that advisors’ interest has hit much more of a high as of 2019 and they’re optimistic about the new year.