Over half of advisors warming up to crypto after Trump's election win, finds survey

It's not just investors who've been swayed toward crypto by Donald Trump's win at the polls in November; financial advisors are also increasingly open to the idea.

That's according to the seventh annual Bitwise/VettaFi Benchmark Survey of Financial Advisor Attitudes Toward Crypto Assets, released Thursday.

The survey, conducted between November 14 and December 20, found that 56 percent of advisors are more likely to invest in crypto in this year following the results of the US presidential election in November.

The poll – which drew responses from over 400 financial professionals, including RIAs, broker-dealer representatives, financial planners, and wirehouse advisors – also highlighted a surge in crypto allocations. Within that pool of advisors, 22 percent said they're now investing in the asset class for clients, double the rate from 2023.

“Advisors are awakening to crypto’s potential like never before, and they’re allocating like never before,” Matt Hougan, chief investment officer at Bitwise Asset Management, said in a statement revealing the results. “But perhaps most staggering is how much room we still have to run, with two-thirds of all financial advisors…still unable to access crypto for clients.”

The survey found client demand is a primary driver, with 96 percent of advisors fielding crypto-related inquiries in 2024. Advisors who already allocate crypto for clients appear steadfast, with 99 percent planning to maintain or increase their exposure to the asset class in 2025. Meanwhile, 19 percent of advisors who have not yet invested said they are likely to do so this year, a strong jump from eight percent in 2023.

Among crypto-related products, equity ETFs remain the top choice for advisors. Expense ratios ranked as the most important factor when choosing a bitcoin ETF, followed by issuer expertise and support.

Despite growing interest, barriers remain. Only 35 percent of advisors have access to crypto for client accounts, and 71 percent said clients are investing in crypto independently.

While regulatory uncertainty has eased compared to previous years, thanks in no small part to hopes of a friendlier SEC under Trump's second administration, it was still cited as the top obstacle to adoption by 50 percent of respondents.

Bitcoin, the standard-bearer for digital assets, managed to cross the $100,000 mark in December, and has flirted with that level in the early days of 2025. While the resulting revival of investor interest has given the crypto industry a lot to cheer about, that's not how outgoing SEC Chair Gary Gensler sees it.

"I've never seen a field that’s so much wrapped up in sentiment and not so much about fundamentals," Gensler said Wednesday in an interview with Bloomberg Television.

He has just under two weeks left at the helm of the federal securities regulator, having announced plans to step down on January 20, the same day as Trump's second inauguration as US president. During his time, the SEC issued charges and took actions against crypto players running the gamut from outright fraudsters to established names like Coinbase and DRW Holdings.

Gensler argues there's more to be done regulating the altcoin and digital assets space, as he says firms in the industry don't give everyday investors enough disclosures or information. Nevertheless, the survey from Bitwise and Vettafi paints a bullish picture for the asset class for the year ahead.

“Based on the latest data, the future is very bright as advisors and investors gain more access and education about the potential benefits,” said Todd Rosenbluth, head of research at VettaFi.