Financial advisors have shown low exposure to the recent crypto crash, mostly insulated due to caution in allocating to cryptocurrencies like Bitcoin and Ethereum.

Advisors who do invest in crypto tend to use ETFs, with BlackRock’s spot bitcoin ETF, IBIT, seeing a record of nearly 300 million shares traded last Thursday.

Despite Bitcoin stabilizing around $70,000, the market remains bearish on recovery, with Bloomberg analysis showing continued warning signs from Bitcoin perpetual futures.

Only one-quarter of financial advisors surveyed allocate to crypto, with RIAs and wirehouses having greater allocations than IBDs as more advisors plan to use crypto within the next two years.

RIAs utilizing crypto ETFs typically have less than 1% of AUM invested, aligning with studies suggesting that allocations above 2% in traditional portfolios can lead to significant risk concentration.

BlackRock’s iShares Bitcoin Trust ETF (IBIT) is the most popular crypto ETF among RIAs, accounting for over half of the roughly $40 billion allocated to crypto ETFs, with other popular options including iShares Ethereum Trust ETF and Fidelity Wise Origin Bitcoin Fund.

Read more at Yahoo Finance: RIAs Show Low Exposure to the Latest Crypto Crash