James Butterfill believes that clients respect such personal advisors and RIAs for their responsibility and commitment to carefully weighing trading data before including any financial instrument in a portfolio.
The launch of Bitcoin ETFs took place on January 11, which means that the influx of investments from the RIA market can be observed at the end of the first quarter, the expert predicts.
“Given that the RIA market represents over $50 trillion in assets under management, the potential inflow could be very significant. For example, if 10% of RIAs decide to invest 1% of their portfolios in Bitcoin ETFs, this could lead to an additional inflow of at least $50 billion into the Bitcoin market,” Butterfill added.
Previously, the administration of the Carson Group fund, an investment consultant with assets under management of $30 billion, stated about its readiness to offer its clients shares of four spot Bitcoin ETFs: BlackRock iShares Bitcoin Trust, Fidelity Wise Origin Bitcoin Fund, Bitwise Bitcoin ETF and Franklin Bitcoin ETF.
Despite the general positive attitude of the US investment and financial community towards bitcoin ETFs, US Democratic senators called on US Securities and Exchange Commission (SEC) Chairman Gary Gensler to prevent the approval of the launch of new exchange-traded funds tied to cryptocurrencies.
Source: Bits
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