Funds are Buying Digital Assets

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“Institutional investors’ interest in cryptocurrencies and crypto-related businesses is growing” — Paul Ebeling. 

Fidelity Digital Assets, the crypto unit of the global asset management giant Fidelity Investments Inc, tasked Coalition Greenwich to survey 1,100 institutional investors to understand their expectations regarding digital asset investments.

Bitcoin bounced Thursday on renewed speculation the US could soon approve ETF (exchange-traded funds) on bitcoin futures.

The consensus in the crypto market is that an ETF would become the most important source of demand from yield-hungry institutional and traditional market investors.

This is a digital asset

A digital asset investment defined by the survey team included investing in cryptocurrencies directly, buying crypto-related company stocks, or exposure through other investment products.

Notably 70% of participants expect to invest in digital assets within the next 5 yrs, and 9 out of 10 who are interested in investing foresee their company’s or their clients’ portfolios adding digital assets within the same time window.

Have a prosperous weekend, Keep the Faith!