Fidelity survey: More than 800 institutional investors found 80% had a positive outlook on cryptocurrency
According to the Fidelity Digital Assets survey, more than 800 institutional investors, conducted between November 2019 and March 2020, ranging from financial advisors and high net-worth individuals to pension managers and crypto hedge funds. This means the institutional investors are more comfortable than ever with the emerging asset class and are likely to continue buying in as the marketplace matures.
Later this month, we’ll release highlights from our annual Institutional Investors Digital Asset Study conducted by Greenwich Associates.
The results suggest that digital assets continue to gain adoption and interest by a variety of institutional investors.
— Fidelity Digital Assets (@DigitalAssets) June 2, 2020
Bitcoin ETP will launch on Deutsche Börse Xetra after receiving approval from German financial regulators
According to ETF Stream, the ETC Group will list Bitcoin Exchange Traded Crypto (BTCE), an exchange-traded product (ETP) on Germany’s Xetra digital stock exchange. As such, after getting approval from German financial regulators, traders in the UK, Italy, and Austria will also be able to trade shares of the new product.
BTCE tracks Bitcoin price and is backed physically by cryptocurrencies. Bitcoin will be stored in cold storage by the digital asset manager BitGo.
ETC Group Chief Executive Officer (CEO) Bradley Duke said:
“The crypto sector has been held back by concerns about complexity, accessibility, and governance. With BTCE, we are transporting Bitcoin into the fold of mainstream, regulated financial markets. Investors get the benefits of trading and owning Bitcoin through regulated security while having the optionality of redeeming Bitcoin if they choose.”
Fidelity Digital Assets: Institutional investors are warming up to Bitcoin
With the statistics from Fidelity Digital Assets above, we can clearly see institutional investors are more comfortable than ever with the emerging asset class and are likely to continue buying in as the marketplace matures.
In particular, more than one-third of surveyed investors said they had held cryptocurrency; and nearly two-thirds said they plan to give cryptocurrency a place in their portfolio. And in particular, there are quite a few people who said that they have been exposed to Bitcoin. Meanwhile, about 11% had hodl ETH in their portfolio and 60% said they had purchased cryptocurrency directly rather than through intermediaries.
There are some notable differences that were recorded between answers given by investors in the US versus those in Europe, while just 10% of US-based respondents felt the same. European investors were more comfortable with digital assets overall, with 45% currently invested compared to just 27% of US respondents. This was the first year European investors have been included in the Fidelity survey.
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