Institutional investors doubled cryptocurrency purchases in 2020

Fidelity's digital asset subsidiary found that a number of U.S. institutionalinvestors buying crypto-derivative products increased significantly in 2020

Fidelity Digital Assets reports thatInstitutional sentiment is improving towards cryptocurrencies. “Nearly 80% of investors surveyed found something attractive about the asset class,” the statement said.

22% of U.S. respondents investing in digital assets deal with futures, which is a significant increase compared to 9% of U.S. investors surveyed in 2019.

The survey, which was conducted from November toMarch, 774 institutions from the USA and Europe took part. About 86 US institutions traded cryptocurrencies this year, compared with 40 institutions that participated in the 2019 study.

Fidelity Investments from Boston - one ofthe largest asset management company in the world. The press release said that the administration manages client assets worth more than 7.9 trillion. In 2018, the company began to develop in the field of digital assets, to provide services for the storage and execution of transactions for institutional investors from the United States. Last December, a new organization was established to serve institutions in Europe.

The survey, which was published on Tuesday, also showed that 36% of respondents - 279 institutions in the US and Europe - have now invested in digital assets.

“These results confirm the trend thatwe are seeing in the market to increase interest in digital assets and to accept them as a new class of assets suitable for investment, ”commented Tom Jessop, president of Fidelity Digital Assets.

Read also:New record: crypto derivatives trading volume in May reached $ 602 billion

Interestingly, European institutions (45%) hadmuch more chances and opportunities for crypto assets than their American counterparts (27%). This trend also affected sentiment, where 82% of European institutional investors found something attractive in relation to digital assets, as opposed to 74% in the United States.

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