The Bitwise/VettaFi 2025 Benchmark Survey of Financial Advisor Attitudes Toward Crypto Assets
San Francisco • January 9, 2025
Bitwise Asset Management, a global crypto specialist asset manager with more than $12 billion in client assets,¹ and VettaFi, a leading data-driven ETF platform, today released the seventh annual “Bitwise/VettaFi 2025 Benchmark Survey of Financial Advisor Attitudes Toward Crypto Assets.”
Initiated the week after the 2024 U.S. election, the much-anticipated survey provides a valuable window into advisors’ increasing enthusiasm for crypto on the heels of a landmark year that saw the approval of the first spot Bitcoin and spot Ethereum ETFs in the U.S.
The survey, which ran from November 14 to December 20, provided several key findings:
Crypto emerged as a strong winner in the 2024 U.S. elections: Fifty-six percent (56%) of advisors said they were more likely to invest in crypto in 2025 as a result of the election results.
Crypto allocations doubled year-over-year to a new high: Twenty-two percent (22%) of advisors reported allocating to crypto in client accounts this past year. That’s double the rate in 2023 (11%) and an all-time high for the survey.
Client interest is stronger than ever: Ninety-six percent (96%) of advisors received a question about crypto from clients last year.
Once you invest, you tend to stay invested (or invest more): Ninety-nine percent (99%) of advisors who currently have an allocation to crypto in client accounts plan to either maintain or increase that exposure in 2025.
Advisors are much more inclined to make an initial allocation for clients: Of those advisors who have not yet allocated for clients, 19% are “definitely” or “probably” planning to add exposure in 2025, more than double the previous year’s 8%.
When choosing bitcoin ETFs, advisors prize expertise: Among the most important features when choosing a bitcoin ETF, expense ratio ranked highest at 58%. Interestingly, brand of issuer (46%) and issuer support (43%) came in above AUM (28%), suggesting the importance advisors place on subject matter expertise among asset managers in a specialized industry like crypto.
Access remains a major barrier to adoption: Despite the emergence of spot Bitcoin and Ethereum ETFs in 2024, only 35% of advisors said they are able to buy crypto in client accounts.
Many clients are investing in crypto outside the advisory relationship: Seventy-one percent (71%) of advisors said “some” or “all” of their clients were investing in crypto on their own. These held-away assets represent a major business opportunity for advisors seeking to help clients integrate crypto into a broader wealth plan.
Crypto equity ETFs continue to be advisors’ top choice: When asked what crypto exposure they were most interested in allocating to in 2025, crypto equity ETFs were the favorite among advisors.
Regulatory uncertainty, while still significant, has tapered: While 50% of advisors cited regulatory uncertainty as the top obstacle to future crypto investments, the figure dropped markedly from prior surveys, where it had ranged from 60% to 65%.
“If you had any doubt that 2024 was a massive inflection point for crypto, this year’s Bitwise/VettaFi survey dispels it,” said Bitwise CIO Matt Hougan. “Advisors are awakening to crypto’s potential like never before, and they’re allocating like never before. But perhaps most staggering is how much room we still have to run, with two-thirds of all financial advisors—who advise millions of Americans and manage trillions in assets—still unable to access crypto for clients. We see that changing in 2025 as the Mainstream Era of Crypto continues apace.”
"We have partnered with Bitwise to survey advisor sentiment toward cryptocurrency long before spot bitcoin ETFs changed the game, and we've never been more excited," said Todd Rosenbluth, Head of Research for TMX VettaFi. "Based on the latest data, the future is very bright as advisors and investors gain more access and education about the potential benefits. Asset managers like Bitwise bring tremendous expertise to the ETF community and we are honored to work with them."
Over 400 financial advisors answered a series of questions on crypto assets and their use in client portfolios. Survey respondents included independent registered investment advisors, broker-dealer representatives, financial planners, and wirehouse representatives from across the U.S. The full survey results can be read here.
READ SURVEY RESULTSNote:
(1) As of January 7, 2025.
About VettaFi
VettaFi is a provider of indexing, data & analytics, industry-leading conferences, and digital distribution services to ETF issuers and fund managers. It operates the ETFdb, Advisor Perspectives, and ETF Trends websites and the LOGICLY portfolio analytics platform—engaging millions of investors annually—empowering and educating the modern financial advisor and institutional investor. For more information, please visit www.vettafi.com.
VettaFi, LLC is a wholly-owned subsidiary of TMX Group Limited (TMX Group). For more information about TMX Group, please visit www.tmx.com.
Bitwise Asset Management is the largest crypto index fund manager in America. Thousands of financial advisors, family offices, and institutional investors partner with Bitwise to understand and access the opportunities in crypto. For seven years, Bitwise has established a track record of excellence managing a broad suite of index and active solutions across ETFs, separately managed accounts, private funds, and hedge fund strategies. Bitwise is known for providing unparalleled client support through expert research and commentary, its nationwide client team of crypto specialists, and its deep access to the crypto ecosystem. The Bitwise team of more than 90 professionals combines expertise in technology and asset management with backgrounds including BlackRock, Millennium, ETF.com, Meta, Google, and the U.S. Attorney’s Office. Bitwise is backed by leading institutional investors and has been profiled in Institutional Investor, Barron’s, Bloomberg, and The Wall Street Journal. It has offices in San Francisco, New York, and London.
