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According to a recent survey, institutional investors and wealth managers are planning to increase their exposure to crypto. The survey targeted institutional investors and wealth managers currently exposed to crypto across the UK, France, Germany, the US, and the UAE.
Market research company Pureprofile conducted the survey as authorized by Nickel Digital Asset Management. Pureprofile interviewed 50 wealth managers and 50 institutional investors in the five countries between May and June.
Findings showed that four out of 10 interviewees have plans to expand their crypto holdings. Furthermore, 82% of the participants intend to increase their focus on crypto between now and 2023. On the other hand, 7% said that they would reduce their exposure to digital coins. Also, 1% of the participants plans to sell their total crypto holdings.
More than half of the participants are holding crypto and digital assets due to their long-term capital growth prospects. Also, 38% said that their exposure to crypto has added to their confidence in the asset class. Furthermore, 34% said that the reason for their Bitcoin allocation is the growth in the regulatory environment for the crypto space.
The CEO and co-founder of Nickel Digital, Anatoly Crachilov, said:
“The number of institutional investors and corporates holding Bitcoin and other crypto assets is growing, and their confidence in the asset class is also increasing.”
Image Credits: Pixabay
