Will financial advisors be using bitcoin ETFs soon?
On this episode of A Wiser Retirement™ Podcast, we talk about financial advisors using bitcoin ETFs, congress’ view on cryptocurrency, and the future of bitcoin. Casey Smith is joined by Robert Swarthout, Founder, CEO, and Portfolio Manager of Teton Crypto Capital, and Don Friedman, President of DACFP discuss the future of bitcoin ETFs.
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SUMMARY:
As cryptocurrency becomes more popular, it’s important to educate yourself on how it works, as well as the regulatory uncertainties surrounding it. There is a generational divide within Congress regarding cryptocurrency. Some older politicians are less likely to support cryptocurrency due to concerns about potential risks, while younger politicians see it as a viable asset class.
They talk about the potential benefits of adding Bitcoin to portfolios, such as decreased volatility and increased long-term performance. Bitcoin ETFs could potentially change in the future with the approval of new cryptocurrencies like Ethereum. While fees for Bitcoin ETFs may be higher due to the interest that sponsors can receive, if the issuer of an Ethereum ETF could keep the interest and lower the fees, it could become more popular. Overall, Bitcoin and cryptocurrencies have the potential to revolutionize the financial industry, and financial advisors should be prepared for this new asset class.
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