Analysts noticed "extraordinary" interest of investment firms in cryptocurrency ETFs
Survey: institutional investors expressed "extraordinary" interest in cryptocurrency ETFs
Despite last year's plunge in cryptocurrency prices, 48% of BBH survey participants plan to add digital asset ETFs to their portfolios this year
According to a survey conducted by U.S. financial services firm Brown Brothers Harriman (BBH), 74% of institutional investors expressed "extraordinary" or heightened interest in cryptocurrency ETFs.
On April 3, BBH released the results of its 2023 Global ETF Investor Servey, which surveyed 325 institutional investors, financial advisors, and fund managers from the United States, Europe, and China.
According to the report, despite last year's decline in cryptocurrency prices, a quarter of respondents intend to allocate more money to invest in ETFs for digital assets. Institutional investors were the most interested, with nearly three-quarters extremely interested in adding cryptocurrency ETFs to their portfolios.
This year, 48% of survey participants plan to do so: 58% of investors are from China, 55% from the U.S., and only 29% from Europe.
The report explains that the growing interest in cryptocurrency ETFs is partly due to investors adjusting to market volatility, diversifying portfolios, and adding more innovative products. And regulatory initiatives such as the EU's MiCA (Markets in Crypto Assets) project could significantly "reduce the risk" of cryptocurrency investments for asset managers and provide them with an "extra level of comfort" when dealing with crypto exchanges.
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