Fidelity Investments: A third of the institutional …

Fidelity Investments: A third of institutional investors have assets in the crypto market

About a third of large institutional investors hold digital assets such as Bitcoin, Bloomberg writes, citing data from a Fidelity Investments survey..

In the US and Europe, 36% of 774 survey participants said they hold cryptocurrencies or derivatives. In the US, 27% of institutions, including pension funds, family wealth management companies, investment advisors, and traditional hedge funds, said they own digital assets. Last year, 22% of institutions surveyed by Fidelity said yes to this question. Over a quarter of respondents hold Bitcoin, 11% – Ethereum.

“Europe is probably the most supportive and disposed jurisdiction,” said Tom Jessop, president of Fidelity Digital Assets. – This may be due to the events taking place there now. Many countries have negative interest rates. Bitcoin may seem more attractive when other assets are not generating income. “.

Fidelity Investments: A third of the institutional ...

According to Bloomberg, the survey was conducted from November 2019 to early March 2020, that is, even before the market crash. The main concern that, according to the survey participants, prevents the wider distribution of cryptocurrencies, is the volatility of the bitcoin rate..

“These results confirm the trend of increasing interest and acceptance of digital assets as a new investment asset class,” added Jessop..

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