Key Insights:
Fidelity digital asset, a financial platform, has determined that more institutions are interested in crypto than a year ago. This is regardless of the bear market and other events happening globally.
About 74% of the surveyed institutions asserted that they intend to buy digital assets in the future. And there are more statistics the survey showed.
According to their annual study, there has been a 6% increase in the ownership of digital assets. The study also stated that 58% of surveyed investors recounted possessing digital assets in the first half of 2022.
The study surveyed 1,052 institutional investors across the U.S., Asia, and Europe.
Asia ranked highest on the digital asset ownership list with 69%. Europe was close by with 67%, and the U.S. had about 42%. While the latter two figures are lesser than Asia's, they represent respective rises for both continents.
What made the investment high in these places were venture capitalists, high net worth investors, and financial advisors. Their percentage participation is as follows; 87%, 82%, and 73%, respectively.
Some industry insiders believe that advisers will be significant to mass crypto adoption. To that end, some reputable companies launched crypto-only separately managed accounts (SMAs) for investment professionals.
Fidelity's director of research, Chris Kuiper, believes that investors have increasingly ascertained an awareness of the technology of digital assets.
Almost 40% of the institutions purchased digital assets directly, with BTC and ETH being the most popular ones.
Fidelity's survey showed a growing enthusiasm for crypto amongst investors.
First off, 35% think digital assets should be perceived as an independent investment class. This is an increase from 23% last year. Also, 74% of the surveyed institutions said they intend to buy digital assets eventually.
For many, what discourages them from investing in crypto is the high volatility in price. However, Kuiper believes that, while it is a valid concern, other possible issues can be addressed as time progresses.
The study from Fidelity digital asset shows unwavering confidence — despite the bear market. Kuiper opines that increased institutional participation is proof of the maturation of the market.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.