“Europe is perhaps more supportive and accommodating,” Tom Jessop, president of Fidelity Digital Assets, said in an interview. That could “be just things going on in Europe right now, you got negative interest rates in many countries. Bitcoin may look more attractive because there are other assets that aren’t paying return.”
Seeing the increased interest, a slew of companies ranging from BitGo to Genesis have launched new services such as prime brokerages geared toward institutional investors.
The survey was conducted by Greenwich Associates between November 2019 and early March, right before the crypto market crashed and quickly rebounded. Fidelity runs a service for trading and securing digital assets.
“These results confirm a trend we are seeing in the market toward greater interest in and acceptance of digital assets as a new investible asset class,” Jessop said. Fidelity declined to comment on the amount of customer assets or holdings by institutional groups.
The survey found that price volatility was the top concern impeding wider institutional adoption.
[More: Is Bitcoin a safe bet during market sell-offs?]
The post A third of institutional investors hold crypto assets: Fidelity appeared first on InvestmentNews.