Spot Bitcoin ETFs ‘Massive Win for the Advisor Community,’ Grayscale Says

The launch of spot bitcoin ETFs should help advisors better connect with clients and gain a larger share of assets.

For the past few years, advisors’ biggest frustration was that they were not able to get access to spot bitcoin investments despite clients asking for it. That’s according to Dave LaValle, global head of ETFs at Grayscale Investments, who was part of VettaFi’s Cryptocurrency Symposium on January 12.

“In absence of their ability to deliver that exposure, they’re losing clients assets,” he added.

Spot bitcoin ETFs allow advisors to offer clients exposure to bitcoin in a wrapper they’re comfortable with. The products enable direct ownership of bitcoin. They also offer the benefits of the ETF structure.

“This is a massive win for the advisory community,” LaValle said.

Paul Cappelli, head of liquid passive strategies at Galaxy Asset Management also participated in the symposium. He wasn’t surprised by advisors’ preference to get access to physical bitcoin via the ETF wrapper.