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Wealth managers and advisers to increase exposure to cryptocurrencies

Bitcoin is the most favoured digital coin among the industry


Some three-in-four wealth managers and IFAs expect to raise their exposure to cryptocurrencies over the next 12 months, according to research conducted by ETF issuer HANetf.

Of the 75 wealth managers and IFAs surveyed as part of HANetf’s bi-annual Digital Assets & Crypto Review, 75% expect to up their crypto weighting this next year, with Bitcoin being the favoured coin by a strong margin.

According to the research, some 59% of wealth managers held a positive view on Bitcoin, versus just 16% who were positive about Ethereum.

In terms of regulation, while 41% of the respondents think regulators will embrace cryptocurrencies and digital assets more, 52% think they will make it harder for investors to access them.

Furthermore, 29% think the UK will have the most accommodating regulatory environment for crypto in five years’ time, followed by 20% who said Switzerland.

Hector McNeil, co-chief executive and co-founder of HANetf, said: “Investors are increasingly interested in cryptoassets, despite the especially volatile start to this year. According to experts in the crypto field, clearer and firmer regulations should be a welcome change for investors, as it would potentially bring greater stability to a notoriously volatile market.”

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