Fidelity Survey: Digital Assets Appeal To Almost 80% Of Institutional Investors
A giant financial management company finds out after the survey that more than 80% of institutional investors are interested in digital assets. After surveying 800 investors from the US and Europe, the firm also sees that more than a third of such institutional investors have exposure to digital assets markets either directly or indirectly.
The digital asset subsidiary of Fidelity took data from 774 institutions in the US and Europe. The survey also noticed that nearly 86 institutions invested in crypto futures in 2020 as compared to 40 witnessed in 2019. “22% of U.S. respondents invested in digital assets have exposure via futures, which is a substantial increase relative to 9% of U.S. investors surveyed in 2019,” the Fidelity Digital Assets stated.
While explaining about the growth of crypto futures, the firm said,” recent market growth in the number of crypto native and incumbent service providers offering cash and physically settled futures contracts.”
According to the company, Fidelity is holding more than $7.9 trillion worth of clients’ assets, which makes it one of the largest asset management companies in the world.
The survey unveils that almost 279 institutions in the Europe and US have already used their funds in buying up crypto assets and most of these are venture funds and hedge funds.
Tom Jessop, the president of Fidelity Digital Assets, said:
“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.”
Growth of Crypto Derivatives
Due to the increasing print of cash on the part of banks, investors are hedging their funds by buying up more digital assets. The derivatives volume has especially seen a particular growth as CryptoCompare said last week that the volume of crypto derivatives increased up to $602 billion in May alone.
The report also explained that 45% of European institutions are more interested in holding crypto assets as compared to 27% US institutions.
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