As many as 36% of large investors own crypto assets, and bitcoin is the most popular, Fidelity says
More than one-third of large institutional investors hold crypto assets, and the most popular one is bitcoin, a recent survey showed.
As many as 36% of institutional investors in the US and Europe own crypto assets, according to a survey of 774 firms released Tuesday by Fidelity Investments. Institutional investors include pension funds, family offices, financial advisers, and hedge funds.
In the US, 27% of investors said they hold crypto assets, up from 22% a year ago when Fidelity surveyed 441 American firms. In Europe, 45% of firms surveyed said they hold crypto assets.
Of the digital assets held, bitcoin is by and far the most popular, according to the survey – more than 25% of respondents said they hold bitcoin, and 11% hold ethereum.
“These results confirm a trend we are seeing in the market towards greater interest in and acceptance of digital assets as a new investable asset class,” Tom Jessop, president of Fidelity Digital Assets, said in a statement. “This is evident in the evolving composition of our client pipeline, which spans from crypto native funds to pensions.”
Bitcoin has been on a tear this year as markets whipsawed amid the coronavirus pandemic and reopening efforts. The digital currency has gained 36% for the year after tumbling in early March and swiftly recovering.
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