Big money wants to buy more crypto, says a new survey

07/09/2021

London-based crypto fund Nickel Digital Asset Management, recently conducted an online survey, with 82% of the 100 investors and wealth managers polled conceding plans to increase their crypto portfolio between now and 2023. The research population for this survey consisted of 50 wealth managers and 50 institutional investors with prior exposure to crypto assets across the United States, the United Kingdom, France, Germany and the United Arab Emirates.

  • Nearly 40%, of survey respondents stated that they will “exponentially increase their holdings,”
  • Just 7% revealed that they intend to reduce their exposure,
  • Only 1% plan to sell their entire crypto holdings.

However, in most cases, institutional investors with crypto holdings have very low levels of exposure, as many have just been testing the market to see how it works

Investment Rationales

The primary reason given for investing more in crypto assets is the long-term capital growth prospects, according to 58% of the respondents. Even with the massive market slump, Bitcoin (BTC) has still made 18% so far this year, and Ether (ETH) is up 215% since Jan. 1.

Around 38% of those surveyed claimed that having some exposure to crypto assets gave them more confidence in the asset class, while 37% cited more leading corporates and fund managers investing in crypto assets as a reason to invest further.

Anatoly Crachilov, co-founder and CEO of Nickel Digital, commented that confidence in the asset class is increasing, and he expects the trend to continue, adding:

“Our analysis at the start of June this year revealed that 19 listed companies with a market cap of over $1 trillion had around $6.5 billion invested in Bitcoin, having originally spent $4.3 billion buying the cryptocurrency.”

This is in line with results from similar previous surveys attempting to gauge market sentiment.

  • Last month, a survey conducted by U.K. investment firm AJ Bell’s revealed that more people bought crypto assets than stock-related savings products over the past year.
  • Also, Mastercard survey in May revealed that four in 10 people plan to start using cryptocurrency for payments within the next year.

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