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Financial Advisors Slow In Adopting Bitcoin ETFs Despite Self-Directed Investor Surge, BlackRock Executive Says: 'I Would Call Them Wary...'

Benzinga ·  Jun 17 18:03

ABlackRock Inc. executive has suggested that financial advisors are proceeding cautiously withBitcoin(CRYPTO: BTC) exchange-traded funds after the Securities and Exchange Commission (SEC) approved them in January.

What Happened:Samara Cohen, BlackRock's chief investment officer of ETF and index investments, stated that financial advisors are gradually embracing Bitcoin ETFs, reported CNBC.

Despite the slow adoption, approximately 80% of Bitcoin ETF purchases have been made by self-directed investors, Cohen said. She added that hedge funds and brokerages have also shown interest, but registered investment advisors have been more cautious.

"I would call them wary ... that's their...

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