According to the survey, almost half of institutional investors, such as pension and sovereign wealth funds, family offices, do not know what to do with cryptocurrencies.
Of the 400 organizations surveyed at the industry conference Context Summits in Miami, only 27% believe cryptocurrency legitimate asset class, and 26% took them to the fraud.
Supporters of cryptocurrencies often point to the growing interest in the assets of institutional investors. Recently the head of the blockchain startup Abra bill Barhydt (Bill Barhydt) even predicted a new cryptocurrency boom this year because, in his opinion, the market will come “is a serious Western institutional money.”
Last year the cryptocurrency market has experienced explosive growth in investor interest that followed in the Wake of exponential growth in the price of bitcoin and other cryptocurrencies. According to the research FINTECH company of the NEXT Autonomous as of February this year, there were already 226 cryptocurrency hedge funds.
However, only 11% of the surveyed institutional investors said they plan investments in the cryptocurrency this year. Sure that’s not going to make 71%, and 18% are undecided.
Predicting a new boom in the cryptocurrency market, in connection with the arrival of institutional investors, bill Barhydt said:
“Though half a percent is a tiny amount for large investment companies, it will still be hundreds of millions of dollars that would be a tremendous boost for the cryptocurrency market.”
We will remind, earlier it was reported that Morgan Creek Capital, managing more than a billion dollars in hedge funds, intends to raise $500 million in new, focused solely on cryptocurrencies.