Ric Edelman: Spot Bitcoin ETFs Could Drive $150 Billion Into Bitcoin
The famous author, investor and crypto expert believes advisors will embrace spot bitcoin ETFs.
Just how big of a deal could the approval of spot bitcoin ETFs in the U.S. become? In this episode of Exchange Traded Fridays, etf.com senior analyst Sumit Roy and etf.com wealth management editor Jeff Benjamin sit down with Ric Edelman to find out the answer to that question.
Edelman, who is the founder of the Digital Assets Council of Financial Professionals and author of “The Truth About Crypto,” believes that a whopping $150 billion could eventually flow into spot bitcoin ETFs.
“We have found that only 12% of financial advisors are currently recommending bitcoin to clients. The number one reason advisors cite for not engaging in bitcoin is that there’s no effective, easy way for them to do so. And that is why 77% of financials advisors say they are waiting for a bitcoin ETF and that they will engage in it when it becomes available,” Edelman explained.
In his view, if independent RIAs, which collectively manage $8 trillion in assets, put just a small fraction of their investable assets into spot bitcoin ETFs, that will amount to hundreds of billions of dollars of inflows.
Edelman had much more to say about spot bitcoin ETFs, including when we can expect them to launch and what other crypto ETFs could follow, in this episode of Exchange Traded Fridays.
Ric Edelman was ranked three times as the nation’s #1 independent financial advisor by Barron’s. He’s in Research magazine’s financial advisor hall of fame and Barron’s advisor hall of fame. In 2017, he received the IARFC’s lifetime achievement award, and he has two patents for financial product innovation. Edelman is the founder of Edelman Financial Services and the Digital Assets Council of Financial Professionals.
