Posted 2 weeks ago | by Catoshi Nakamoto
A poll taken by Nickel Digital Asset Management revealed that 82% of private institutional investors and asset managers are planning to increase their exposure to digital assets for the next three years.
According to the survey, investors and asset managers were asked from the U.S., U.K., France, Germany, and the UAE who currently have exposure to digital assets about their crypto investment strategies. The poll was conducted between May and June of this year.
As per the study, 82% of those asked stated they anticipate increasing their crypto exposure between now and 2023.
While 40% said they will drastically increase their digital asset holdings, 7% stated they would reduce their exposure, and a mere 1% said they would sell their entire portfolio of digital assets.
The respondents of the survey were also asked about their future investment plans, 58% of survey participants said that their primary reason for investing is long-term capital growth. Meanwhile, 38% said they have “confidence” in the asset class, and 37% said their reason for investing is more leading corporates and fund managers diving into digital assets. In addition, 34% said that an improved regulatory certainty will be a key factor in increasing their digital asset allocations.
Anatoly Crachilov, co-founder and CEO of asset management firm Nickel Digital, told Institutional Asset Manager a news website for investors: “The number of institutional investors and corporates holding bitcoin and other digital assets is growing and their confidence in the asset class is also increasing.”
He further stated:
“Many of those professional investors with holdings in crypto assets are looking to increase their exposure … These trends will continue to expand.”
Crachilov further stated that the current trend of digital assets is “being driven by several factors including strong market performance during the Covid-19 crisis, more established investors and corporations endorsing the market, and the sector’s infrastructure and regulatory framework improving.”
This comes as both Fidelity and Bank of America have announced they are expanding their digital asset research teams as Bitboy Crypto reported. Other banks and institutions including — Citi Bank, JPMorgan, Morgan Stanley, Wells Fargo, Goldman Sachs, and many others have already established cryptocurrency research teams to better understand the industry or have directly invested in digital assets or infrastructure.
A number of investment banks have begun offering or are in the process of enabling the sales of cryptocurrency to their clients. As Bitboy Crypto reported, under a deal through NYDIG and another service called Fiserv, it’s estimated 70% of U.S. banks can now offer their clients the ability to purchase digital assets with the focus on Bitcoin.
Bitcoin is currently trading at [FIAT: $32,906.37] UP +1.1% in the last 24 hours according to Coingecko at the time of this report.