Bitwise/VettaFi 2025 Benchmark Survey of Financial Advisor Attitudes Toward Crypto Assets

The Bitwise Crypto Survey is an annual industry survey released each January. The 2024 Bitwise/VettaFi survey was conducted from November 14 to December 20, 2024. During this period, over 400 financial advisors responded to a series of questions regarding crypto assets and their role in client portfolios.

Survey Respondents by Advisor Type

• 44% consists of 'Independent Registered Investment Advisors'
• 27% consists of 'Independent Broker-Dealer Representatives'
• 13% consists of 'Financial Planners'
• 7% consists of 'Warehouse Representatives'
• 2% consists of 'Institutional Investors' (pension, endowment, foundation, etc.)
• 6% consists of 'Others' (family office, private bank wealth management, etc.)

Survey Respondents by Assets Under Management

• 3% manages $100B+ (AUM)
• 1% manages $10B–$100B (AUM)
• 7% manages $1B–$9.99B (AUM)
• 9% manages $500M–$999.99M (AUM)
• 32% manages $100M–$499.99M (AUM)
• 17% manages  $50M–$99.99M (AUM)
• 13% manages $25M–$49.99M (AUM)
• 16% manages $1–$24.99M (AUM)

The Bitwise/VettaFi 2025 Survey

The Bitwise/VettaFi survey revealed several key findings:

• Crypto proved one of the strongest winners in the 2024 US presidential elections

-56% of all advisors said they were more likely to invest in crypto in 2025 as a result of the election results

-That’s the highest ever, up from 88% in 2023, 90% in 2022, and 94% in 2021

• Crypto allocations doubled year-over-year

-22% of advisors allocated to crypto in client accounts this past year from 11% in the previous survey

-The highest allocation (30%) was made by the category “Institutional Investors” which includes pension funds, endowments, foundations, etc.

-The lowest allocation (15%) was made by the category “Others” which includes family offices, private banks, wealth management, etc

• Client interest is stronger than ever

-96% of advisors received a question about crypto from clients in 2024

-99% of advisors who currently have an allocation to crypto in client accounts plan to either maintain or increase that exposure in 2025

-78% of those with crypto exposure have less than 5% of their portfolios allocated in crypto at the time of the survey

-71% of advisors said some of their clients were investing in crypto on their own

• Their plan for 2025 is to maintain or increase their exposure in the Crypto Market

-99% of advisors who have already allocated to crypto in client accounts plan to maintain or increase the exposure next year (57% Increase and 42% Maintain)

-From those not already allocated, 19% are planning to add exposure over the coming year, more than double compared to last year

-From those not already allocated, an additional 36% are considering an allocation but are not sure, compared to 21% in 2023

-55% said that better regulation would make them allocate more to crypto

• Regulatory uncertainty and high volatility remain the biggest obstacles

-50% of advisors cited regulatory uncertainty as the top obstacle to future crypto investments, the figure dropped from 60% to 65%

-47% find the crypto market too volatile

-31% have no idea how to value crypto assets

-Despite the availability of the spot Bitcoin and Ethereum ETFs in 2024, only 35% of advisors said they can buy crypto in client accounts

• Crypto equity ETFs continue to be advisors’ top choice

-When asked what crypto exposure they were most interested in allocating to in 2025, crypto equity ETFs were the favorite among advisors (25%)

-Spot crypto ETFs (22%) and diversified crypto index funds (19%) were the next most preferred exposures

-Allocating in individual crypto assets is the next preferred exposure (9%)

■ Bitwise/VettaFi 2025 Benchmark Survey of Financial Advisor Attitudes Toward Crypto Assets

Source: www.bitwiseinvestments.com (January 2025)