JPMorgan conducted a survey of 3,400 respondents from 1,500 financial institutions and found that most institutional investors do not plan to invest or trade cryptocurrencies.
Only 11% of those surveyed said their company trades or invests in cryptocurrencies. Accordingly, 89% do not invest in digital assets. At the same time, 78% of respondents who answered that their company does not trade cryptocurrencies said that they did not plan to invest in bitcoin and altcoins. Only 22% recognized such a possibility as probable.
The survey authors note that although the growth of Bitcoin and the entire cryptocurrency market has attracted the attention of institutional investors, there is no consensus in the community of such companies regarding digital assets. So, 14% of respondents expect that the cryptocurrency market will collapse, and 7% of respondents said that virtual currencies will become the most important assets.
At the same time, 58% of respondents believe that cryptocurrencies will become a permanent phenomenon in financial markets, and only 21% of respondents said about the temporary nature of digital assets. Interestingly, 98% of those surveyed consider fraud in the cryptocurrency industry to be “happening” or even “widespread”.
Recall that in early March, one of the world’s largest investment banks, Goldman Sachs, again launched a platform for trading cryptocurrency derivatives.
Telegram channel!
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
