Only 1% of Advisers View Bitcoin and Crypto Assets as a Viable Investment Option: Report

  • Virtually no advisers surveyed (less than 1 percent) are currently using or recommending cryptocurrencies in client portfolios
  • One-quarter of advisers reported that clients have inquired about investing in cryptocurrencies in the last six months

According to the latest annual survey by the Financial Planning Association, the Journal of Financial Planning, and the FPA Research and Practice Institute, investors aren’t much curious about cryptocurrencies with only 25 percent of advisors addressing questions about cryptocurrencies, down from 53 percent in 2018.

This 2019 Trends in Investing Survey included certified financial planner professions (83 percent of the surveyed) and independent IAR/RIAs (53%).

Only one percent of the advisors surveyed said they see cryptocurrencies as a viable investment option.

“When asking advisers for their views on cryptocurrencies, only one percent say they are a viable investment option. Far more are skeptical with 18 percent saying they are a fad that is best avoided and 32 percent saying they are not a viable investment.”

Given the fact that the survey from Fidelity and Blockchain Capital revealed a rising interest in Bitcoin and cryptos, hence this reaction from Gabor Gurbacks, the digital asset strategist and director at VanEck/MVIS,

“That can't be right… (also may be a different answer for bitcoin only).”

“It's interesting to note that the number of advisers reporting client questions about investing in cryptocurrencies fell from half to only a quarter between 2018 and 2019. Clearly the collapse of Bitcoin and the prominent failures of several coin exchanges have taken the air out of what members identified from the beginning as pure speculation,”

said Dave Yeske, managing director of Yeske Buie and practitioner editor of the Journal of Financial Planning.

Among other findings of the survey, 23 percent said they will reduce their use of individual stocks, a five percentage point increase from the 2018’s survey, though not revealed could be the result of the ongoing trade war, slow economic growth, and expert projected financial crisis.

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