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loyalty investmentsThe giant financial institution, which has more than 27 million customers and more than $ 7.2 billion in badets under management, asked 441 institutional investors if they considered digital badets worthy of being held in portfolios. More than half of them said yes.
As reported by Bloomberg, Fidelity commissioned the survey from November to February. Of the 441 institutional investors surveyed, 72% prefer to buy investment products with digital badets, while 57% prefer to buy digital badets directly.
In addition, the survey also revealed that 47% of institutional investors said that digital badets were worth investing.
Fidelity Evaluating the Institutional Investment Market in Crypto
As previously reported by IIBLast March, Fidelity Digital Assets launched its cryptographic preservation service to keep Bitcoin (BTC) for its institutional clients.
As she prepares to launch other cryptocurrency services, she attempts to measure the impact of pensions, family offices, hedge funds, endowments and foundations on investment in cryptocurrency. currencies.
According to Tom Jessop, President of Fidelity Digital Assets, the main reason the survey participants were worried about investing in digital badets was due to volatility, regulatory uncertainty and lack of fundamental data to support management. Bitcoin ETH prices) and other digital resources.
The crypto market needs to be improved
The aforementioned concerns of institutional investors are still present in the cryptography markets, as it is plagued by fraud, theft and regulatory uncertainty.
For example, the latest case scandal involves Bitfinex and Tether investigated by the Attorney General of New YorkBitfinex is accused of concealing the loss of approximately $ 850 million of client funds.
Another recent case, at best of maladministration and at worst of fraud, concerns the most important exchange of cryptocurrency in Canada, Quadriga CX, which owes 115,000 customers $ 193 million in cryptocurrency and cash as a result of the death of its founder Gerry Cotten, who would have died with the private keys of the exchange.
In addition, Fidelity Investments believes it can contribute to the cryptocurrency space by offering high-profile services that institutional clients can trust.
As Abigail Johnson, CEO of Fidelity, puts it:
"People have long relied on the institutions with which they have done business to achieve their goals and meet their needs. I'm not trying to overshadow anyone, but it's up to the client to decide. "
Will Fidelity's digital badets bring a new level of professionalism to the cryptocurrency markets? Tell us what you think in the comment section below.
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