More than one-third of large institutional investors today hold crypto assets, the data from a recently available survey. According to the study, the most popular crypto asset is bitcoin.
As much as 36% of institutional investors in America and Europe own crypto assets. Fidelity Investments released the study and surveyed 774 firms. Institutional investors included pension funds, family offices, advisers, and hedge funds.
In America, 27% of the investors stated that they hold crypto assets, up from 22% this past year when Fidelity surveyed 441 American firms. In Europe, 45% of companies surveyed said they hold crypto assets.
Of the digital assets held, Bitcoin is far the most famous, based on the survey – 25% of respondents stated that they own Bitcoin, and 11% own Etherium.
“These results confirm a trend we are seeing in the market towards greater interest in and acceptance of digital assets as a new investable asset class,” Tom Jessop, president of Fidelity Digital Assets, said in a statement. “This is evident in the evolving composition of our client pipeline, which spans from crypto native funds to pensions.”
Bitcoin has been on the rise this season as marketplaces crashed amid the coronavirus pandemic and reopening efforts. The digital currency has increased 36% for the entire year after tumbling in early March and swiftly recovering.
Fidelity’s study found that the most significant obstacles cited by firms even now hesitant to dive into crypto were price volatility and issues about market manipulation.
The survey was performed by Greenwich Associates between the months of November and March, just before the crypto market price fall and then recovery.