JPMorgan Chase & Co. on Wednesday published a survey stating 72% of institutional traders, out of the 835 surveyed, “have no plans to trade crypto” in 2023. But some industry experts say that this doesn’t mean crypto is dead.
Yang is referring to the collapse of FTX, the crypto exchange that filed for bankruptcy in November, as well as the crash of cryptocurrency Luna in early 2022. Scandals and hacks in 2022 also took over $3 billion from victims who invested in crypto. Technology consulting company Capgemini released a survey in 2022, and out of 2,973 global high-net-worth individuals polled, 71% reported investing in digital assets, and 91% of HNWIs younger than 40 reported having investments in digital assets, with cryptocurrencies listed as their favorite digital investments, followed by exchange-traded funds and metaverse investments. Cryptocurrencies, however, still made up a very small proportion of their entire portfolio.
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