Komfie Manalo, Opalesque Asia: The number of hedge funds and banks that will trade in cryptocurrencies are expected to increase this year, according to a survey by Thomson Reuters.
The survey showed that 20 percent of financial institutions, including the biggest banks in Wall Street, are planning on trading cryptocurrencies over the next three to 12 months, signifying that this could be the year digital currency trading gathers steam.
Neill Penney, co-head of Trading at Thomson Reuters, stated in a press release, "Cryptocurrency is still a relatively small part of the trading market, but this survey indicates this niche segment is starting to enter the mainstream of the financial services industry. This is a major change from a year ago."
The survey of more than 400 clients across all of trading solutions including trading desks at the largest banks, hedge funds, and biggest asset managers also found that nearly 70 percent of those polled were planning to trade digital currencies in the next three to six months, while 22 percent have indicated their intent to trade over the next six to 12 months.
"This indicates that cryptocurrency trading is more of a 2018 project than something longer-term. The survey also found generally widespread familiarity with cryptocur...................... To view our full article Click here
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