Seven out of 10 institutional investors plan to invest or buy digital assets in the future. They say that the main obstacle is high price volatility.
More than half of the 1,100 institutional investors surveyed globally by Coalition Greenwich on behalf of Fidelity Digital Assets between December and April said they were planning to invest in digital assets. According to the survey, about 90% of respondents who reported a willingness to invest in cryptocurrencies or related assets in the future said they expect their companies or their clients’ portfolios to add digital assets over the next five years. Digital assets include both direct investment in cryptocurrency and indirect assets, such as, for example, stocks of cryptocurrency companies or other investment products.
The survey was conducted among high-income individuals, family wealth offices, digital and traditional hedge funds, financial advisors and trust funds in the US, Europe and Asia.
According to the respondents, the main obstacles to buying cryptocurrencies are high volatility, lack of fundamental indicators necessary to assess the value, and fears about possible manipulation of the crypto market.
Earlier, the unit of Boston-based asset manager Fidelity Investments Inc. announced plans to add about 100 workers in technology and operations in Dublin, Boston and Salt Lake City, Tom Jessop, president of Fidelity Digital Assets, said in an interview. The employees will help the business develop new products and expand into cryptocurrencies besides bitcoin, he said.