Advisors ‘wary’ of bitcoin ETFs are on a slow adoption journey, says BlackRock exec. The long-awaited bitcoin exchange traded funds launched in January, and financial advisors are on their way – though gradually – toward adopting them, according to BlackRock's Samara Cohen. For now, about 80% of bitcoin ETF purchases have likely been coming from "self-directed investors who have made their own allocation, often through an online brokerage account," she said, speaking at the Coinbase State of Crypto Summit in New York City on Thursday. The iShares Bitcoin Trust (IBIT) was among the funds to debut earlier this year.Cohen, BlackRock’s chief investment officer of ETF and index investments, noted that hedge funds and brokerages have also been buyers, based on last quarter’s 13-F filings, but registered investment advisors have been a little more “wary.”
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