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According to a survey by Fidelity’s cryptocurrency business, 7 out of 10 institutional investors expect to invest or buy digital assets in the future, but price volatility is a major barrier to new entrants. is.
From December to April, more than half of the 1,100 institutional investors surveyed worldwide by Coalition Greenwich on behalf of Fidelity Digital Assets said they invested in digital assets.
According to a survey, about 90% of those interested in future investments expect their portfolio or client’s portfolio to include investments in digital assets within the next five years.
This included direct cryptocurrency investments or exposures through stocks of cryptocurrency companies or other investment products.
The survey included HNWI investors, family offices, digital and traditional hedge funds, financial advisors and funds.
Launched in 2018, Fidelity Digital Assets is a Boston-based Fidelity Investments cryptocurrency business that provides institutional investors with storage and execution services for assets such as Bitcoin.
The company was one of the first mainstream financial services providers to adopt cryptocurrencies that are increasingly attracting established financial institutions.
TP ICAP announced at the end of last month that it launched the world’s largest inter-dealer broker, a cryptocurrency trading platform with Fidelity and Standard Chartered’s digital asset management units.read more
Despite mainstream interest, cryptocurrency prices and trading volumes are declining. Bitcoin has fallen about 50% from its April highs.
The companies surveyed cited price volatility as the number one obstacle for new investors, followed by the lack of fundamentals needed to assess the value and concerns of market manipulation.
In a survey last month, JPMorgan Chase and Company found that only 10% of institutional investors trade cryptocurrencies, with nearly half labeling emerging asset classes as “rodenticides” or temporary. I predicted that it would be a fashionable trend.read more
Report by Anna Irella; edited by Barbara Lewis.