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Majority of Professional Investors Yet to Embrace Crypto, But Nearly Half Might Enter Through ETPs

Blockworks | Ben  Strack | May 15, 2023

Survey of Pro investors interested in crypto - Majority of Professional Investors Yet to Embrace Crypto, But Nearly Half Might Enter Through ETPs

Image: Trackinsights

  • According to a survey by Trackinsight:
    • 75% of professional investors currently have no exposure to cryptocurrencies, but around 48% would consider investing in exchange-traded products (ETPs) focused on single-token cryptocurrencies, and
    • 47% would consider ETPs offering exposure to multiple cryptocurrencies. This interest stems from ETPs being a more appealing way to gain exposure to cryptocurrencies than dealing directly with digital wallets.
  • Traditional investments in cryptocurrencies are less attractive to these professional investors, with only 37% expressing interest in direct investment. Still, a significant portion (23%) stated they would not consider investing in crypto at all. The survey suggests a growing interest in cryptocurrency investment via ETPs given the recent surge in Bitcoin prices.

See:  Industry Thinks Feds Are Trying to Kill Crypto, White House Denies It

  • Surveyed professional investors remain largely focused on Bitcoin (59%) and Ether (49%). Asset managers are responding to this trend by seeking to launch new crypto-related products, including ETPs.
    • Notably, Grayscale Investments has filed for three new ETFs, one of which would invest in other ETPs that hold or are backed by Bitcoin and Bitcoin mining companies.
    • However, JPMorgan Asset Management noted that while ETFs are a great tool for diversification, offering crypto ETFs is not a focus for the firm in the near future.

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NCFA Jan 2018 resize - Majority of Professional Investors Yet to Embrace Crypto, But Nearly Half Might Enter Through ETPsThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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