57% of financial advisors in the U.S. plan to increase crypto ETF positions

TMX VettaFi, a subsidiary of TMX Group, released a survey report that found that 57% of U.S. financial advisors plan to increase their positions in cryptocurrency exchange-traded funds (ETFs), CoinDesk reported. 42% of respondents said they would maintain their current positions, while 1% said they would reduce their positions. Cinthia Murphy, senior investment strategist at TMX VettaFi, explained that the survey was conducted on thousands of financial advisors in the U.S. Murphy said that they were particularly interested in crypto equity ETFs that invest in listed companies with exposure to the cryptocurrency industry, such as Strategy and Tesla. She added that these products are easy to understand and control.