Many crypto investors are anticipating the arrival of spot Bitcoin ETFs with the speculation of approvals now stronger than ever. Shedding insight into what the future will hold for the market, top investment advisor, Bruce Fenton has shared insights into the 7 key reasons why Registered Investment Advisors (RIAs) will join the bandwagon.

Spot Bitcoin ETF: a Product for All

According to Bruce, the spot Bitcoin ETF will gain embrace by RIAs, a subsect of 620,000 SEC/ FINRA licensed investment professionals in the United States. As gleaned from his post, the attractiveness of Bitcoin will be visible to these investment managers who naturally follow the money. 

Fenton believes things will change drastically after the ETF approval for 7 key reasons. First, he believes financial advisors generally follow the money and secondly, since they are smart about finance, they will be willing to learn about the new asset class.

He also pointed out that the fact that they need to keep tabs on what the public and clients are talking about will fuel interest among RIAs who have not found reasons to pay attention to the asset all this while.

So there’s lots of talk about the ETFs bringing in assets which buy up #Bitcoin & raise the price.

There’s something much more interesting. The financial advisors.

There are over 620,000 SEC/ FINRA licensed investment professionals (I’m one of them!) in the US, thousands of…

— Bruce Fenton (@brucefenton) January 6, 2024

Bitcoin has a track record of outperforming traditional assets and since financial advisors like making money for their clients, Bruce Fenton believes there will be a natural attraction in this regard as they like to make money and keep their clients happy. Ultimately, Bruce Fenton considers the need for portfolio balancing as another catalyst that will spark RIA interest in the long term.

In all, Bruce Fenton believes with the spot Bitcoin ETF approval, different financial planning software will integrate BTC, giving RIAs the resources they need to properly analyze the digital currency’s performance.

The Capital Rush into Crypto

Before Bruce Fenton came up with his thesis about investment advisors, top leaders within the digital currency ecosystem had been forecasting what the future holds. Besides a general consensus that the more than a decade wait for the spot Bitcoin ETF product is finally over, many believe it will draw in massive institutional capital judging the trillions of Assets Under Management (AUM).

While some like Matrixport believe there is still a likelihood of a denial, many active stakeholders are ready to ride the train in anticipation that Bitcoin price may finally retest and surpass its previous All-Time High (ATH).

At the time of writing, the coin is changing hands at a price of $43,902.74, up by 1.22% in the past 24 hours.

The post Spot Bitcoin ETF: 7 Key Reasons Why RIAs Will Join the Bandwagon appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am