Morgan Stanley's Head of Digital Asset Strategy Amy Alderburg stated that the adoption of cryptocurrency ETFs remains in its early stages, with most current demand coming from self-directed investors rather than accounts managed by financial advisors. She noted that approximately 80% of ETF distribution on Morgan Stanley's platform comes from self-directed trading, highlighting the necessity for greater collaboration with financial advisors on asset allocation. Major institutions including Morgan Stanley, Bank of America, BlackRock, and Fidelity recommend cryptocurrency allocations ranging between 1% to 4%, with some institutions currently considering allocations as high as 5%. Despite inflows exceeding $68 billion into U.S. spot Bitcoin and Ethereum ETFs since 2024, broader adoption across advisory platforms is only just beginning. Bitwise's president emphasized that the end of 2025 will be a critical period for financial advisors to gain the necessary approvals.