26 March 2021 · 1 min read

Are Financial Advisors Buying Bitcoin?

Ric Edelman, founder of Edelman Financial Engines, and Matthew Kolesky, president at Arbor Capital, discuss the state of Bitcoin adoption amongst financial advisors, who control USD 5 trillion in investor wealth. They are interviewed by Laura Shin of Unchained Podcast.

Episode timestamps:

  • 0:00 - Welcome to Unchained
  • 1:25 - Guest's background and why they got into crypto.
  • 8:59 - How most RIAs (registered investment advisors) view digital assets and the hassle of buying crypto on a client’s behalf.
  • 18:20 - What percentage of financial advisors have already invested in bitcoin and how many more will come into the space by next year.
  • 21:59 - How RIADAC — the RIA Digital Assets Council — is educating financial advisors about crypto.
  • 25:22 - Their favorite methods to explain Bitcoin and other digital assets.
  • 35:32 - The different ways financial advisors are getting bitcoin/crypto exposure for their clients.
  • 39:58 - Why RIAs use investment vehicles to purchase Bitcoin rather than spot-buying the actual asset.
  • 44:40 - Why GBTC is trading at a deficit to the bitcoin price and their thoughts on a bitcoin ETF.
  • 54:26 - The percent allocation to crypto they feel comfortable with for their clients.
  • 57:35 - How they rebalance crypto holdings, whether they use yield-bearing crypto products yet, and projections for 2021.

The episode premiered on March 23, 2021.