United States-based asset management firm Fidelity Investments released the results of a survey showing that 22% of institutional investors already own digital assets, in a press release published on May 2.
The release claims that the firm surveyed 411 U.S. institutional investors among which 40% of respondents said that they are open to future investments in digital assets in the next five years. Furthermore, almost half (47%) of respondents said that they see a place for digital assets in their investment portfolios.
Most investors (72%) prefer to buy crypto investment products, while 57% prefer to buy crypto assets directly and another 57% prefer to buy an investment product that holds digital asset companies. Tom Jessop, president of Fidelity Digital Assets, commented on the findings:
“We’ve seen a maturation of interest in digital assets from early adopters, like crypto hedge funds, to traditional institutional investors like family offices and endowments.”
When it comes to the reason behind their interest in digital assets, 46% of respondents find the low correlation to other assets to be crypto’s most appealing characteristic. Financial advisors (74%) and family offices (80%) reportedly view the features of digital assets most favorably.
On the other hand, unclear regulation, volatility, limited track record and lack of fundamentals were cited among the obstacles to investing in digital assets.
As Cointelegraph reported earlier this week, a former executive of British investment bank Barclays, Chris Tyrer, has joined Fidelity Digital Assets, the crypto platform of Fidelity Investments.