Survey: As customer confidence in cryptocurrency increases, more surveyed advisors recommend increasing its allocation

On November 20, the Digital Assets Council of Financial Professionals and Franklin Templeton Digital Assets recently released a new survey showing that more and more customers now own cryptocurrencies, and advisors are recommending cryptocurrencies to them at higher rates. The Q3 2024 Advisor Pulse survey pointed out that advisors are suggesting allocating more funds to cryptocurrencies, reflecting their growing confidence in diversifying portfolios with this asset class. In addition, 19% of financial advisors found that over half of their clients invested in digital assets, an increase of 4% from earlier this year. Furthermore, 36% of advisors noted that between 10% to 49% of their clients own cryptocurrencies. The report stated the proportion of its client base without cryptocurrency ownership has dropped below 3%, a significant decrease compared to Q2 in 2024. Seventy percent (70%) of financial advisors recommend at least ten percent (10%) investment in cryptocurrency for their clients. Moreover, over one-third (specifically 36%) suggest it to at least fifty percent (50%) or more clientele. Advisors who include cryptocurrency recommendations typically advise investing two percent (2%), with about twenty-six percent (26%) supporting such allocation; additionally twenty-two percent(22%) support five-percent allocation.The survey included six hundred nineteen(619) finance professionals where sixty-one percentage(61 %) primarily serve clients whose assets range between $500k-$3.5M USD while eleven percentage(11 %) focus on those exceeding $3.5M USD.