BlackRock’s iShares Bitcoin Trust (IBIT) gained $1.1 billion last week in net inflows, marking a total of over $70 billion in assets under management, faster than any other ETF in history.
The shift towards cryptocurrency investments by financial advisors is notable, with approximately 20% of spot Bitcoin ETF shares now held by these professionals, according to Bloomberg Intelligence.
Ric Edelman emphasizes the necessity for advisors to educate themselves on digital assets, advising that allocations to crypto should range from 10% to 40% depending on client risk levels, challenging traditional investment models.
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