Independent financial advisors start disclosing Bitcoin exposure via ETFs

Independent financial advisors are starting to disclose their exposure to Bitcoin through spot Bitcoin exchange-traded funds (ETFs). Signal Advisors, a startup based in Michigan, revealed that it owns 20,571 shares of the BlackRock iShares Bitcoin Trust (IBIT). Wedmont Private Capital, an investment advisory firm in Philadelphia, stated that it holds 3,471 shares of the Fidelity Bitcoin ETF (FBTC). Although these investments constitute a small portion of their portfolios, they indicate a growing trend of financial advisors incorporating Bitcoin into their investment strategies. Other firms, such as Burkett Financial Services, have also disclosed their ownership of Bitcoin ETF shares. Experts expect more disclosures in the coming weeks as the demand for Bitcoin investment options continues to rise. Additionally, data shows that spot Bitcoin ETFs have experienced significant inflows, with total inflows reaching $12.3 billion as of April 10. These ETFs, particularly IBIT and FBTC, have seen substantial investment and have set records in the ETF market. Despite a turbulent start to the month, they have not experienced any outflows for over 60 trading days.