Advisors in the financial industry predict that if a bitcoin exchange-traded fund (ETF) is approved, it would encourage them to invest in crypto separately managed accounts (SMAs) as well. They believe that a bitcoin ETF would legitimize cryptocurrencies and generate increased demand for crypto SMAs. A survey conducted by Nasdaq also found that a majority of financial advisors would be more likely to invest in crypto if a spot bitcoin ETF were available. The CEO of SMA platform Eaglebrook Advisors stated that a bitcoin ETF approval would make it easier for people to access crypto and would drive demand for SMAs. Crypto SMAs offer benefits such as exposure to a range of assets and the ability to transfer crypto without triggering taxes. While an ETF might be more convenient, financial professionals are more likely to transition from a bitcoin ETF to a crypto SMA rather than the other way around. Executives also anticipate that more asset managers will launch crypto SMAs in the next year.
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