Wealth managers continue to restrict access to Bitcoin as prices rise to a record $109,000, according to experts. The digital currency rose progressively from its bottom in 2022 at $19,000 and is currently at record prices, but mainstream wealth management firms keep clients’ funds away.
Wealth Managers Continue To Deny Bitcoin ETF Access
As per a study by crypto investment company Tephra Digital, wealth managers who manage over $31 trillion in assets continue to limit clients from purchasing Bitcoin spot exchange-traded funds. This is despite BlackRock’s Bitcoin ETF being the most successful ETF launch ever on record.
The figures indicate that over $10 trillion is wholly shut out by companies that completely ban any Bitcoin exposure. Some of these companies include Vanguard, Edward Jones, and Citibank. The remaining $21 trillion is under some form of barrier, whereby Morgan Stanley, JP Morgan, and Goldman Sachs only permit a restricted access for customers who have certain qualifications.
By the time your financial adviser says it’s OK to buy Bitcoin, it’ll cost $1 million. When they say it’s a good idea, it’ll be $10 million. pic.twitter.com/5CRrf2gSFL
— Michael Saylor (@saylor) May 1, 2025
Saylor Warns Of Missed Opportunities For Late Adopters
Strategy chairman Michael Saylor reacted to these revelations with daring projections regarding the future worth of Bitcoin. He indicated that when financial advisors come to fully embrace Bitcoin, the price will be $1 million. When they finally appreciate its special attributes, he thinks Bitcoin could be sold for $10 million.
Strategy Chairman Michael Saylor. Source: Getty Images
Saylor’s remarks point to the possible expense of holding out for mainstream acceptance before investing. Early investors may reap enormous profits while those holding out for their advisors’ approval may miss the largest growth phases.
Bitcoin Adoption Increases Despite Institutional Resistance
The prohibitions come when the top crypto asset has gone a long way past its initial “bubble” image. The cryptocurrency now features in the reserve assets of leading institutions and continues to increase popularity worldwide.
Tephra Digital research originated directly from interviews with financial planners across the nation. The company followed how these professionals engaged with Bitcoin spot ETFs, which came out a bit more than one year ago.
Trump Administration May Change The Game
The regulatory environment is currently improving under the administration of US President Donald Trump. Emerging frameworks for stablecoins and cryptocurrencies have picked up steam, potentially to take the crypto further toward broader acceptance.
These policy developments may one day persuade skittish wealth managers to relax their limits. For now, the price of BTC keeps rising while $31 trillion in managed wealth sits on the sidelines.
As analysts see it, this discrepancy between the market performance of Bitcoin and its mainstream acceptance by traditional finance presents both challenges and opportunities for investors.
Those who are able to get access to investments in Bitcoin stand to gain by entering before major wealth managers open the gates fully to their clients.
Featured image from Gemini Imagen, chart from TradingView
