Research: About a third of institutional funds hold cryptocurrency

About a third of large institutions own cryptocurrency, according to a Fidelity Investments survey.

About 36% of774 respondents from Europe and America stated that they own cryptocurrency or derivatives. 

In the US, 27% of institutions – including pensionsfoundations, family offices, hedge funds and investment advisors – own digital currencies. By comparison, only 22% of US institutions held Bitcoin last year.

In Europe, 45% of respondents said that they have investments in cryptocurrency.

According to the survey, more than a quarter of respondents hold Bitcoin and about 11% hold Ethereum.

The survey was conducted by Greenwich Associates between November 2019 and March 2020. Company representatives said:

These results confirm the growing trend of interest in digital assets as a new class of investment.

The survey also showed that the cryptocurrency market volatility is still the main problem that discourages investors.

Subscribe to ForkNews on Telegram

Based on materialswww.thenational.ae