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Laxman Pai, Opalesque Asia: 87% of investors plan to increase crypto allocations, favoring options like exchange-traded products (ETPs), stablecoins, and thematic mutual funds, revealed a survey.
The survey by EY-Parthenon and Coinbase that gathered insights from over 350 institutional investors worldwide said that 55% hold spot crypto through ETPs, with 69% of those who plan to own spot crypto planning to do so using registered vehicles.
"While many said they prefer to get their exposure to crypto through registered vehicles such as ETPs, there's also interest in expanding custody services to offer and hold spot crypto directly," the survey pointed out.
Earlier in 2024, some of the bitcoin ETPs became the fastest-growing ETPs across a spectrum of altcoins, including Solana (SOL) and ripple (XRP).
Institutional investors seek opportunities to power new payment platforms and enjoy rewards through staking and yield generation. 84% of investors surveyed said they plan to use stablecoins, with Tether (USDT) and USD Coin (USDC) being the top two preferred coins.
"84% of institutions are either using or considering stablecoins for applications such as yield generation (73%), foreign exchange (69%), internal cash management (68%), and external payments (63%)," it explained.
Many investment firms are also instinctively driven to invest in innovation, with 49% saying their crypto investment was aligned with a wide goal of investing in innovative technologies. 41...................... To view our full article Click here
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