A survey of U.S. financial advisers concluded that most believe approval will not come until at least 2025.
While many crypto holders anxiously await the approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States, one group of financial experts appears to be pessimistic about this prospect. According to a survey from ETF issuer Bitwise published on Jan. 4, only 39% of U.S.-based financial advisers believe a Bitcoin ETF will be approved this year.
The survey asked financial advisers across the country several questions, with participants ranging from registered investment advisers (RIAs), financial planners, institutional investors, and wirehouse representatives. When participants were asked to select a time period for when they expect a spot Bitcoin ETF to be approved, only 39% answered “2024.” This contrasts with some experts who expect the ETFs to be approved by the Jan. 10 deadline.
Despite this pessimism, most advisers do expect a Bitcoin ETF to be approved eventually, the survey claimed. Twenty-two percent stated that an approval will come in 2025 and 24% answered “after 2025.” Another 2% stated that the approval would come in 2023, although this prediction didn't materialize. When added together, this implies that a full 87% believe that an ETF will be approved eventually. Twelve percent answered “never” when asked this question.
