A yearly analysis providing insight into the cryptocurrency market from an industrial standpoint, the portfolio and asset manager Fidelity Investment’s “2022 Institutional Investor Digital Assets Study” was released on October 27.
According to the report, the market is presently in a good position to withstand the economic pressures it has been experiencing lately.
Tom Jessop, Fidelity Digital Assets President, stated: “We believe that digital assets fundamentals remain strong and that the institutionalization of the market over the past several years has positioned it to weather recent. The institutional investors were experienced in managing through these market cycles. The factors that they believe are appealing about crypto assets remain relevant as the market emerges from this bear phase.”
During the first half of the year, 1,052 specialists were surveyed for the study, who were from a range of businesses. The survey revealed that adoption varied considerably depending on the type of investor.
When compared to the same period last year, Asian institutional investors displayed a slight decrease, however, continuing to maintain their massive allocation of 69%. Institutional adoption of cryptocurrencies surged by 67% in Europe and by 42% in the U.S.
In contrary with the fact that 2021 was a bull market while 2022 is bearish, the study found that 74% of investors intend to buy or invest in crypto assets in the future, up slightly from 71% in 2021.
Fidelity lists major areas of attraction
According to Fidelity’s findings, the most alluring characteristics that attracted investors were decentralization, cutting-edge technology, and large potential upsides.
High-net-worth individuals, cryptocurrency hedge funds, venture capitalists, and financial advisors all showed the most adoption and contemplation of cryptocurrencies. On the other hand, Family offices, pension plans, conventional hedge funds, endowments, and foundations were at the bottom end of the adoption range.
Fidelity joined the hiring spree earlier this month by doubling the size of the company, as TheCoinRise reported. Moreover, it also announced Ethereum trading options for its corporate investors, in an effort to increase adoption.