Advisors Remain Divided On Crypto, But SEC Approvals, Demand Are Shifting Views

The rise of cryptocurrencies and the new administration’s friendliness toward digital assets have left advisors deeply conflicted about the asset class, a new survey by CoinShares reveals.

On the one hand, 62% of advisors say recommending Bitcoin and other cryptocurrencies goes against their fiduciary duties, and half think doing so would make colleagues think less of them.

On the other hand, 85% of advisors say their firm’s views on digital assets have changed since President Donald Trump won re-election, and 79% agree that, with more and more clients putting money into cryptocurrencies, the role of advisors is becoming to manage the risk that poses for clients.

Squaring this circle will require more information and education …

Full story available on Benzinga.com