Ric Edelman, founder of Edelman Financial Services, has revealed that financial advisors are eagerly awaiting the approval of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC). Once approved, these investment products can be offered to their clients without any compliance issues. According to Edelman, "Every compliance department will say okay to that product because it's just an ETF like other thematic ETFs."
Financial Advisors Await Spot Bitcoin ETFs
During a recent episode of Coindesk's Unchained podcast, Ric Edelman, the founder of Edelman Financial Services and a renowned author of personal finance books, shared his insights on spot bitcoin exchange-traded funds (ETFs). He highlighted:
Our latest survey shows that 77% of advisors are eagerly waiting for the spot bitcoin ETF to become available. Once approved, they can offer this investment opportunity to their clients without any compliance concerns. This is because every compliance department treats it as just another ETF, similar to thematic ETFs.
Elaborating further, Edelman mentioned, "We use ETFs for investing in computer technology, oil and gas, gold and precious metals, and emerging markets. The spot bitcoin ETF will simply be a way to invest in blockchain and digital assets."
Additionally, Edelman revealed that 47% of financial advisors personally own bitcoin, which demonstrates their understanding and belief in the potential of this innovative technology to deliver significant investment returns.
Edelman also contemplated the conversation between financial advisors and their clients. He posed the question, "How will advisors explain to their clients when they ask, 'Should I buy bitcoin? What do you think? By the way, do you own it?'" According to Edelman, advisors who personally own bitcoin would respond, "'Oh yeah, I've owned it for years. I just never told you to buy it.'"
Many experts anticipate that the U.S. Securities and Exchange Commission (SEC) will approve multiple spot bitcoin ETFs simultaneously. JPMorgan analysts, for instance, expect this outcome. Bloomberg ETF analyst Eric Balchunas also shared his thoughts, stating, "We still hold the line at 90% odds of approval by Jan 10," emphasizing that these odds have remained consistent for months.
What are your thoughts? Do you think financial advisors will recommend spot bitcoin ETFs to their clients? Let us know in the comments section below.
Frequently Asked Questions
How much gold do you need in your portfolio?
The amount that you want to invest will dictate how much money it takes. A small investment of $5k-10k would be a great option if you are looking to start small. You could then rent out desks and office space as your business grows. This way, you don't have to worry about paying rent all at once. You only pay one month.
Consider what type of business your company will be running. My website design company charges clients $1000-2000 per month depending on the order. This is why you should consider what you expect from each client if you're doing this kind of thing.
If you are doing freelance work, you probably won't have a monthly salary like I do because the project pays freelancers. You may get paid just once every 6 months.
Before you can determine how much gold you'll need, you must decide what type of income you want.
I recommend starting with $1k-$2k of gold and growing from there.
Should You Buy or Sell Gold?
Gold was a safe investment option for those who were in financial turmoil. Many people are shifting away from traditional investments like bonds or stocks to instead look toward precious metals such gold.
The trend for gold prices has been upward in recent years but they still remain low relative to other commodities like silver and oil.
Some experts believe that this could change very soon. Experts believe that gold prices could skyrocket in the face of another global financial crisis.
They also mention that gold is becoming more popular due to its perceived worth and potential return.
Here are some things to consider if you're considering investing in gold.
- Before you start saving money for retirement, think about whether you really need it. It's possible to save for retirement without putting your savings into gold. However, when you retire at age 65, gold can provide additional protection.
- Second, make sure you understand what you're getting yourself into before you start buying gold.There are several different types of gold IRA accounts available. Each account offers different levels of security and flexibility.
- Don't forget that gold does not offer the same safety level as a bank accounts. If you lose your gold coins, you may never recover them.
Do your research before you buy gold. Protect your gold if you already have it.
What precious metals could you invest in to retire?
Silver and gold are two of the most valuable precious metals. Both are easy to sell and can be bought easily. These are great options to diversify your portfolio.
Gold: The oldest form of currency known to man is gold. It is very stable and secure. It's a great way to protect wealth in times of uncertainty.
Silver: Silver is a popular investment choice. It's a great option for those who want stability. Silver tends to move up, not down, unlike gold.
Platinum: A new form of precious metal, platinum is growing in popularity. It's resistant to corrosion and durable, similar to gold and silver. It is, however, more expensive than its competitors.
Rhodium: Rhodium can be used in catalytic convertors. It is also used to make jewelry. And, it's relatively cheap compared to other types of precious metals.
Palladium (or Palladium): Palladium can be compared to platinum, but is much more common. It's also less expensive. It is a preferred choice among investors who are looking to add precious materials to their portfolios.
Statistics
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
External Links
investopedia.com
irs.gov
bbb.org
forbes.com
How To
Investing gold vs. stocks
Gold investing as an investment vehicle can seem extremely risky these days. Many people believe that investing in gold is not profitable. This belief arises because most people believe that the global economy is driving down gold prices. They fear that investing in gold will result in a loss of money. However, investing in gold can still provide significant benefits. Here are some examples.
One of the oldest currencies known to man is gold. It has been in use for thousands of year. It was used by many people around the globe as a currency store. It is still used as a payment method by South Africa and other countries.
The first point to consider when deciding whether or not you should invest in gold is what price you want to pay per gram. The first thing you should do when considering buying gold bullion is to decide how much you will spend per gram. You can always ask a local jeweler what the current market rate is if you don't have it.
It is important to remember that even though gold prices have dropped in recent times, the cost of making gold has risen. So, although gold prices have declined in recent years, the cost of producing it has not changed.
The amount of gold that you are planning to purchase is another important consideration when deciding whether or not gold should be bought. If you plan to buy enough gold to cover your wedding rings then it is probably a good idea to wait before buying any more. However, if you are planning on doing so for long-term investments, then it is worth considering. It is possible to make a profit by selling your gold at higher prices than when you purchased it.
We hope our article has given you a better understanding of gold as an investment tool. We recommend you do your research before making any final decisions. Only then can informed decisions be made.
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By: Kevin Helms
Title: Financial Advisors Are Waiting for Spot Bitcoin ETFs to Offer Clients, Says Ric Edelman
Sourced From: news.bitcoin.com/financial-advisors-are-waiting-for-spot-bitcoin-etfs-to-offer-clients-says-ric-edelman/
Published Date: Sun, 03 Dec 2023 06:30:47 +0000
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