New Fidelity research: Institutional investment in cryptocurrencies to grow 18% by 2024
|- Four in ten of the respondents were open to having cryptocurrency investments.
- “We’ve seen a maturation of interest in digital assets from early adopters, like crypto hedge funds…,” Tom Jessop.
According to a recent report by Fidelity Investments, the crypto industry will see an increase in institutional-based cryptocurrency investments in the coming five years. The report was released followed a survey that took into account feedback from 441 institutional investors. The institutional investors ranged from hedge funds, pensions as well as endowments.
The feedback Fidelity got was that 22% of the participants were already investing in cryptocurrency. This means that the market is doing well as compared to 2016 where the institutional investments in crypto were almost non-existent. Moreover, four out of ten of the respondents were open to digital assets related investments. If all parameters are kept constant the report suggests an 18% growth in institutional investments in the next five years. At the same time, 47% of the respondents are open to having cryptos in their portfolios.
The president of Fidelity Digital Assets, Tom Jessop says:
“We’ve seen a maturation of interest in digital assets from early adopters, like crypto hedge funds, to traditional institutional investors like family offices and endowments. More institutional investors are engaging with digital assets, either directly or through service providers, as the potential impact of blockchain technology on financial markets—new and old—becomes more readily apparent.”
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