Most institutional investors expect to buy digital assets, study finds

Tuesday, July 20, 2021
Most institutional investors expect to buy digital assets, study finds © Reuters. FILE PHOTO: Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are placed on PC motherboard in this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/Illustration

By Anna Irrera

LONDON (Reuters) - Seven in 10 institutional investors expect to invest in or buy digital assets in the future, although price volatility is the main barrier for new entrants, a study by Fidelity's cryptocurrency business found.

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 had digital asset investments.

Around 90% of those interested in investing in future said they expected their company's or their clients' portfolios to include digital asset investments within the next five years, the research found.

This included direct cryptocurrency investments or exposure through stocks of cryptocurrency companies or other investment products.

Those surveyed included high net worth investors, family offices, digital and traditional hedge funds, financial advisors and endowments.

Launched in 2018, Fidelity Digital Assets is the cryptocurrency business of Boston-based Fidelity Investments and offers institutional investors custody and execution services for assets such as bitcoin.

The company was one of the first mainstream financial services providers to embrace cryptocurrencies, which increasingly have attracted established financial institutions.

TP ICAP (LON:NXGN) the world's biggest inter-dealer broker, late last month said it was launching a cryptocurrency trading platform with Fidelity and Standard Chartered (OTC:SCBFF)'s digital assets custody unit.

Despite the mainstream interest, cryptocurrency prices and trading volumes have slumped. Bitcoin has fallen around 50% since its high in April.

The firms surveyed cited price volatility as the biggest obstacle for new investors, followed by the lack of fundamentals needed to assess value and concerns around market manipulation.

In a survey last month JPMorgan Chase & Co (NYSE:JPM), found only 10% of institutional investment firms trade cryptocurrencies, with nearly half labeling the emerging asset class as "rat poison" or predicting it would be a temporary fad.

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27-07-2021 19:20:37 (UTC+7)

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 EUR/USD1.1812↑ Buy
 GBP/USD1.3813↑ Buy
 USD/JPY110.06↑ Sell
 AUD/USD0.7367Sell
 USD/CAD1.2566Neutral
 EUR/JPY130.00↑ Buy
 EUR/CHF1.0805↑ Sell
 Gold1,803.55↑ Buy
 Silver25.282↑ Buy
 Copper4.5565Buy
 Crude Oil WTI71.92↑ Sell
 Brent Oil73.83↑ Sell
 Natural Gas4.044↑ Sell
 US Coffee C205.35↑ Sell
 Euro Stoxx 504,079.55↑ Sell
 S&P 5004,422.30↑ Buy
 DAX15,537.90↑ Sell
 FTSE 1006,992.95↑ Sell
 Hang Seng25,060.87↑ Buy
 Small Cap 20002,216.03↑ Buy
 IBEX 358,681.00↑ Sell
 BASF66.975↑ Sell
 Bayer50.56↑ Sell
 Allianz209.43↑ Sell
 Adidas311.57↑ Sell
 Lufthansa9.945Neutral
 Siemens AG132.90↑ Buy
 Deutsche Bank AG10.516↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,660/ 5,715
(-5/ -5) # 712
SJC HCM5,660/ 5,730
(-20/ -15) # 728
SJC Hanoi5,660/ 5,732
(-20/ -15) # 730
SJC Danang5,660/ 5,732
(-20/ -15) # 730
SJC Nhatrang5,660/ 5,732
(-20/ -15) # 730
SJC Cantho5,660/ 5,732
(-20/ -15) # 730
Cập nhật 27-07-2021 19:21:07
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KRW17,3221,08
Cập nhật lúc 18:50:40 27/07/2021
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