Over 30% of institutional investors own cryptocurrencies such as bitcoin (EXANTE: Bitcoin), Bloomberg reports, citing a survey conducted by Fidelity Investments.
Fidelity Wants to Expand its Mining Business Across the US and Europe, 1/3 of the survey’s 774 respondents said they own cryptocurrencies.
According to the survey, in the US, over 25% of institutional investors (pension funds, family offices, investment advisers, etc.) own cryptocurrencies, up from 22% about a year ago. In Europe, over 40% of respondents have virtual currencies.
Bitfury to Allow Mining Bitcoin for Institutional Investors Fidelity Digital Assets president Tom Jessop says Europe is perhaps more supportive and accommodating cryptocurrencies.
Bitcoin may look more attractive because there are other assets that aren’t paying return. “Bitcoin may look more attractive because there are other assets that aren’t paying return,” Jessop added.
In May, cryptocurrency exchange Bitfinex in cooperation with Koine, a London-based digital asset custody provider, rolled out an institutional-focused crypto custodian service.
iHodl also reported that popular cryptocurrency services provider BitGo launched a new trading service for institutional investors called BitGo Prime.