40% of Financial Advisors Steering Clients Toward Crypto 

Approximately 40% of financial advisors reported that they have recommended digital assets to at least half of their clients, according to a new survey sponsored by Franklin Templeton. 

The Digital Assets Council of Financial Professionals (DACFP) surveyed 584 advisors in June, and that figure jumped by nearly 25% from 32% in March. Meanwhile, 56% of advisors who have not yet recommended digital assets intend to do so in the future, with 40% of this group indicating they will do so within the next six months. 

Recommended digital-asset allocations vary greatly: 24% of the advisors who’ve recommended digital assets have suggested a 2% allocation, while 22% have suggested a 5% allocation and 20% have suggested a 1% allocation, the DACFP said. A little more than 12% of advisors have proposed an allocation of more than 5%, which is largely consistent with the results of the DACFP’s survey in March. 

Among those professionals polled, 68% of them worked at independent registered investment advisor firms, the survey noted. 

Following the Securities and Exchange Commission’s approval of Bitcoin ETFs in January, the number of advisors recommending crypto to their clients increased to 13% in June, from 8% in March, according to the DACFP.