Bloomberg reported about a Fidelity Investments survey according to which half of
Fidelity has been preparing for the next crypto spring already. Earlier this year it launched a custody service to hold Bitcoin for its customers. Evidently, Fidelity now is about to learn how pensions, family offices, hedge funds, endowments
- 72 percent prefer to buy investment products that hold digital assets, while
- 57 percent choose to buy them directly.
The survey found 47 percent of institutional investors said cryptoassets are worth investing in, with the same percentage saying they appreciate crypto for being innovative. The survey also found that 46 percent of respondents like the low correlation between cryptocurrencies and other asset classes.
“That’s interesting because I’d argue that no one owns dollars or euros in a fund,” Tom Jessop, president of Fidelity Digital Assets. Not surprisingly, the survey participants expressed concerns about volatility, regulatory uncertainty and a lack of fundamentals to use in determining the right price for Bitcoin, Ether
The results of the Fidelity survey are just another indication that crypto winter is about be transformed into crypto spring and another bull cycle.