The survey included a diverse range of participants, including registered investment advisors, financial planners, institutional investors, and banking representatives. Surprisingly, when asked about the expected approval timeline for spot cryptocurrency ETFs, only 39% of respondents indicated 2024. This contradicts the anticipation of many cryptocurrency analysts who eagerly await the launch of such funds.
However, despite the pessimistic outlook, a majority of respondents still believe that spot cryptocurrency ETFs will eventually be approved. Specifically, 22% of respondents expect this to happen in 2025, and 24% believe it will occur sometime “later than 2025”. Interestingly, 2% of respondents had anticipated the launch of a Bitcoin ETF in 2023, but their expectations have not been met. Nevertheless, a significant 87% of respondents remain confident that cryptocurrency spot funds will be approved at some point.
The survey also revealed that 88% of financial advisors would not consider investing in cryptocurrencies until a US Bitcoin spot ETF is approved.
It’s important to note that in mid-December, Bitwise analysts presented their cryptocurrency predictions for 2024. According to their forecast, Bitwise Asset Management experts believe that Bitcoin’s value will reach $80,000 by 2024.