Bitcoin supporter Scott Melker recently mentioned that if just 0. 5% of all the money managed by registered investment advisors was put into a Bitcoin ETF, it would be worth $570 billion.
Melker said that investment advisors oversee a lot of money, $114 trillion. He also mentioned that the total value of Bitcoin is $860 billion right now.
In addition, the person who studies cryptocurrencies said that 88% of investment advisors said they were waiting for a specific type of investment fund to be available before they would recommend Bitcoin to their clients. But, financial advisor Rick Ferri disagreed with Melker’s predictions, saying they were too optimistic.
Ferri, who has been giving advice for 35 years, doubted that advisers would quickly support a Bitcoin ETF from Wall Street. He said, “If someone truly wanted Bitcoin, they would already have it through GBTC. ”
Melker was talking because Bruce Fenton, a big investor, said that a Bitcoin ETF could really change how the financial market works. Fenton noticed that many brokers, financial advisers, and RIAs don’t know much about Bitcoin. He thinks this will change soon.
Fenton said that financial advisors need to stay updated on what customers and the public are discussing. He also mentioned that Bitcoin has performed well and is connected to the markets over the past ten years, so it should be included in more investment portfolios.
Fenton also said that big investment companies would put a lot of money into advertising investments in Bitcoin to their customers. Top economists will talk about it, people will learn why it’s important, and we’ll make really good ads for it. This is happening in the United States. The SEC has set an important deadline for companies who want to start trading Bitcoin ETFs on January 11.
Disclaimer: This article only gives information for learning and knowing things. The article is not giving any financial advice or any kind of advice.