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As of this writing on late June 4, Bitcoin is off 14% over the past week. Amid the seemingly undaunted slide, the largest cryptocurrency would need to roughly double to reclaim its all-time high.
So with Bitcoin in a rough patch, it’s understandable that advisors aren’t fielding as many crypto-related questions from clients during earnest bull markets. Still, it pays to remember that this too shall pass because Bitcoin is acting in accordance with its four-year cycles.
“As of February 2026, bitcoin’s price has been dropping since October in a manner many investors might call bear market-like price action. In each of its previous bear markets, bitcoin’s price has dropped by at least 77% from its all-time high, while its recent low is 52% below its October all-time high,” notes Fidelity. “This doesn’t mean price must fall at least 77% to be considered a bear market—just that the relative magnitude of the current drop hasn’t yet approached what we’ve seen in previous bear markets.”
Yes, there is debate around the efficacy of the four-year cycle and yes, plenty of market participants, including advisors are currently yanking capital from Bitcoin ETFs. However, Bitcoin and its brethren will eventually rebound and clients will renew their interest, underscoring why the findings in the survey we’re discussing here are important.
Advisors Want Access, But Some Are Restricted
21shares, an issuer of digital asset ETFs, and FUSE Research recently polled advisors across a variety of channels, discovering that one of the hurdles in terms of accessing digital assets is firm policies.
“Across all advisors, 46% report working under restrictive firm policies, while 30% report no formal policy and 24% report flexible policies that allow discretion,” according to the survey. “Restrictiveness varies sharply by channel: only 14% of RIAs report restrictive policies, compared with 48% for wirehouses, 46% for IBDs, and 55% for regional broker‑dealers.”
Interestingly, the survey points out that advisors with larger books have some discretion to tap into digital assets despite firm protocols. Increased access is important because nearly two-thirds of the advisors polled by 21shares see crypto becoming a core allocation for clients in the coming years. That speaks to the point that when Bitcoin and friends rebound, advisors need to be prepared.
For some, broadening crypto horizons will take some work. The 21shares survey notes that nearly a third (31%) of advisors queried have personal feelings against allocating to crypto. Arguably, that’s too high given where we’re at in Bitcoin’s maturation cycle and the widespread availability of regulated products, such as ETFs.
More Education Needed
In addition to access, the issue of better digital assets education needs to be solved because it is considerable hindrance to advisor adoption. At least they’re honest about it.
“Our recent survey of over 350 financial advisors, conducted with FUSE Research Network, highlights a major challenge: 84% of advisors believe that current digital asset education is inadequate,” according to the study.
The crypto-interested advisors out there seeking greater education have good reason to embrace that pursuit and the reason boils down to simple economics.
(Image: 21shares/FUSE Research)
Not surprisingly, there are demographic disparities when it comes to digital asset knowledge among advisors. Advisors 45 years old and younger consider themselves extremely knowledgeable about digital assets, but the percentage dips a bit for the 60+ cohort. Good thing is never too late for older advisors to learn new “tricks.”
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