The Bitwise/VettaFi 2025 Benchmark Survey of Financial Advisor Attitudes Toward Crypto Assets (Bitwise)

Summary

• In 2024, Bitcoin rose 123% to an all-time high of over $108,000, propelled by spot Bitcoin ETFs in the U.S. gathering more than $35 billion in assets.p.3
• Twenty-two percent (22%) of advisors reported allocating to crypto in client accounts in 2024, double the 11% reported in 2023.p.8
• Ninety-six percent (96%) of advisors received a question about crypto from clients last year.p.8
• Fifty-six percent (56%) of advisors indicated they were more likely to invest in crypto in 2025 as a result of the U.S. election results.p.12
• Seventy-one percent (71%) of advisors selected exchange-traded funds as their preferred way to invest in crypto.p.15
• Fifty percent (50%) of advisors cited regulatory concerns as the top obstacle preventing them from initiating or adding to crypto exposure.p.13

Key insights

1. Ninety-nine percent (99%) of advisors with existing crypto allocations in client accounts plan to maintain or increase their exposure in 2025.p.11
2. Among advisors who do not currently allocate to crypto for clients, 19% plan to add exposure in 2025, up from 8% in 2023.p.10
3. Expense ratio ranked highest among ETF selection criteria for advisors at 58%, followed by trading volume and spreads at 52%.p.15
4. Seventy-one percent (71%) of advisors reported that some or all of their clients were investing in crypto independently outside the advisory relationship.p.9
5. Crypto equity ETFs were the top preference for advisor allocations in 2025, selected by 25% of respondents.p.11
6. Sixty-seven percent (67%) of respondents believe the price of Bitcoin will be higher in one year.p.16
7. Eighty-three percent (83%) of advisors expect Bitcoin to have a higher market cap than Ethereum in five years.p.17