Advisors ‘cautious’ with Bitcoin ETF adoption, says BlackRock exec

BlackRock’s chief investment officer for ETF and index investments, Samara Cohen, has hinted that financial advisors remain “wary” of adopting spot Bitcoin (BTC) exchange-traded funds (ETFs) despite the success recorded by the investment vehicle. 

Despite attracting over $50 billion in investments since going live in January 2024, Bitcoin ETFs still face a sluggish uptake among financial advisors.

According  to Cohen, approximately 80% of Bitcoin ETF purchases originate from self-directed investors who have made their own allocation through an online brokerage account.

Cohen has highlighted that financial advisors remain cautious of joining the spot Bitcoin ETF bandwagon due to their fiduciary responsibilities to clients.

Given Bitcoin’s history of significant price volatility, advisors are rigorously analyzing its role in portfolios and determining appropriate allocations based on investor risk tolerance and liquidity needs.